MARA, one of the biggest publicly traded $BTC mining entities, has reported a 29% year-over-year dip in Bitcoin ($BTC) holdings in 2026’s 2nd quarter. The platform concluded Q2 with up to 35,577 $BTC in comparison with 49,951 $BTC seen at the same quarter’s end in 2025. As per MARA’s official report, irrespective of this selloff, it raised $BTC production by up to 3% annually. Specifically in March, MARA sold 15,133 BTC to buy convertible notes. Additionally, the energized hashrate of MARA jumped 22% from 57.4 EH/s to 70.3 EH/s.
MARA’s $BTC Holdings Decline 29% Alongside 3% Rise in Bitcoin Production
MARA’s year-over-year sell-off of 29% in Bitcoin ($BTC) holdings, hitting 35,577 $BTC by 2nd quarter’s end, indicates a shift in its strategy. As a result, it now accounts for 35,577 $BTC. Nonetheless, despite this reduction, MARA elevated $BTC production by almost 3% over the year, reaching 2,422 $BTC. Additionally, the 22% surge in the platform’s energized hashrate to approximately 70.3 EH/s and a 4% jump in the everyday per-unit hashrate are also noteworthy. Moreover, the firm reported nearly $2.5B in cumulative Bitcoin ($BTC) and cash holdings in Bitcoin ($BTC) at the quarter’s end.
Apart from that, MARA generated a total revenue of $174.9M throughout the 2nd quarter, underscoring a 27% decrease from almost $252.4M seen a year ago. The firm also lost $1.60 per share and $611.3M in total. These numbers are relatively lower than $1.84 and $808.2M witnessed during 2025. Particularly, MARA generated 2,422 $BTC, whereas a 1% surge took place in the number of blocks won to 700.
Increased $BTC Production and Lower Revenue Present Mixed Results
According to MARA, its per-day cost per petahash also slumped to $27.7 from $28.7, signifying a slight mining efficiency enhancement. The firm also maintained a total of $2.5B in its Bitcoin holdings and unrestricted cash, delivering huge liquidity despite the quarterly loss. Overall, the Q2 results of MARA indicate a mixed picture, with more $BTC production and mining capacity but lower revenue and relatively decreased Bitcoin treasury over the year.