MARA Holdings (MARA) reported Q1 2026 revenue of $174.6M in an SEC 8-K filing on May 11, falling short of the Wall Street consensus estimate of $181.9M.
📊 Price at Time of Publication (May 12, 2026, 09:00 KST)
$13.39 ▲ +3.48%
Approx. ₩19,750 (KRW/USD: 1475)
Results at a Glance
Revenue declined 18% from $213.9M in Q1 2025. Net loss widened to $1.3B, more than double the $533.2M loss recorded in the same period last year. The primary driver of the expanded loss was unrealized mark-to-market losses on digital asset holdings — reflecting price fluctuations in Bitcoin rather than actual asset sales.
- Revenue: $174.6M, -18% year-over-year
- EPS (Net loss per share): -$3.31, deteriorated from -$1.55 in Q1 2025 / Wall Street estimate not disclosed
- Net loss: $1.3B, vs. -$533.2M in Q1 2025
- Adjusted EBITDA: -$1.0B, vs. -$483.6M in Q1 2025
- Bitcoin mined: 2,247 BTC (Q1)
- Bitcoin holdings: 35,303 BTC (approx. $2.4B), -26% year-over-year
- Energized hash rate: 72.2 EH/s, +33% year-over-year
- Energy cost per BTC (self-operated sites): $40,047
Market Reaction
MARA shares sold off immediately following the earnings release. Seeking Alpha, Investing.com, and other financial outlets noted that digital asset impairment charges weighed heavily on results. As of 09:00 KST on May 12, the stock was trading at $13.39, up 3.48% from the prior close.
Key Business Developments
MARA Holdings advanced several strategic initiatives during the quarter. The company moved its partnership with Starwood into the execution phase, acquired a majority stake in French cloud infrastructure firm Exaion, and repaid approximately 30% of its outstanding convertible notes early. After the quarter closed, the company also announced a definitive agreement to acquire U.S. power generation company Long Ridge Energy & Power.
MARA did not purchase additional Bitcoin during the quarter. Of its current BTC holdings, 9,995 BTC have been pledged as collateral or lent out.
This article was auto-generated based on the SEC 8-K filing and wire reports, with the primary goal of delivering key data points promptly after the announcement. Readers are encouraged to review the company's official filings before making any investment decisions. Prices reflect the time of publication and may differ from current market levels.
