Mara Holdings(NASDAQ) MARA

MARA Holdings, Inc. turns energy into specialized computing power. It runs large data centers for bitcoin and artificial intelligence. These facilities help businesses process complex digital tasks quickly.

Making Power Into Compute

• Bitcoin Mining: Core business that produces block rewards and transaction fees by verifying digital ledger data; earned $170.1 million in revenue for the second quarter of 2026.
• Digital Asset Management: Program focused on lending, trading, and borrowing against bitcoin holdings to generate extra income or liquidity.
• Digital Infrastructure: Large-scale data center campuses designed for high-intensity computing tasks like artificial intelligence (AI) and high-performance computing (HPC).
• Cloud Solutions: Secure, private cloud and AI inference infrastructure serving enterprise and regulated customers through the Exaion subsidiary.

Where is the Company Growing?

• Entered an agreement on April 29, 2026, to acquire Long Ridge Energy & Power for an enterprise value of approximately $1.5 billion.
• Acquired a majority interest in Exaion during the first quarter of 2026 to add secure cloud and artificial intelligence capabilities.
• Purchased an operational data center in Central Nebraska on Jan. 21, 2026, expanding the local footprint by 40%.
• Secured rights in July 2026 to a Texas site with 2,000 megawatts of power capacity through the Project Company acquisition.
• Signed a strategic agreement with Starwood Digital Ventures in February 2026 to jointly develop and operate digital infrastructure.

A Massive Energy Footprint

MARA manages 1.9 gigawatts of power across 19 global data centers. This scale lets the company shift between bitcoin mining and artificial intelligence. This flexibility helps the company react to changing market prices for computing.

Financial Results and Asset Totals

• Revenues were $174.9 million in the quarter ended June 30, 2026, down approximately 27% year over year.
• Net loss was $611.3 million for the quarter ended June 30, 2026, compared to a net income of $808.2 million in the prior year period.
• Bitcoin holdings totaled 35,577 tokens with a fair value of $2.1 billion as of June 30, 2026.
• Energized hashrate, which measures theoretical computing speed, grew 22% to 70.3 exahashes per second during the quarter ended June 30, 2026.
• Adjusted EBITDA was a loss of $360.9 million for the three months ended June 30, 2026.

Bottom Line

MARA has evolved from a specialized bitcoin miner into a broad operator of energy and computing infrastructure. By controlling low-cost power assets, the company supports a variety of high-demand workloads including artificial intelligence and blockchain verification.