MARA posts Q2 loss as BTC price drops, revenue falls, and holdings shrink amid miner monetization

Marathon Digital (MARA) reported a Q2 loss despite producing more Bitcoin than at any point in more than a year, according to Cointelegraph. The article attributes the swing to weaker pricing, noting that the average Bitcoin price fell 28% during the quarter, offsetting higher output ^[1].

Multiple reports said MARA’s Q2 results were also marked by a sharp decline in revenue and a drop in its Bitcoin holdings. Blockonomi and Crypto.News reported Q2 2026 revenue of $174.9 million (down 27% year over year) alongside a 29% fall in MARA’s Bitcoin holdings, while Crypto.News characterized the quarter’s loss as $611 million [2,3] ^{[2] [3]}.

Separately, Crypto Briefing reported that MARA’s Bitcoin stash fell 34% in the first half of 2026 to under 36,000 BTC, describing this as part of a broader shift toward monetizing holdings. Meanwhile, CryptoPotato reported that miners including MARA have deposited BTC to exchanges; it specifically cited MARA depositing 200 units to NYDIG on Thursday evening [5,6] ^{[4] [5]}.

Overall, the coverage ties MARA’s quarterly underperformance to the impact of lower Bitcoin prices on financials, even as mining output and hashrate increased ^[1].