MARA

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. MARA Holdings (MARA) is back in focus after reporting second quarter 2026 results that showed lower sales and a move from profit to loss, alongside mixed signals from Wall Street research. See our latest analysis for MARA Holdings. The latest quarterly loss and softer sales have come alongside a sharp reset in MARA Holdings’ share price, which is down 16.18% over 30 days and 31.86% over 90 days, contributing to a 40.94% decline in 1-year total shareholder return. These moves suggest investors are reassessing both growth potential and risk after the earnings swing, even as the stock trades at US$8.96 and sentiment remains influenced by mixed research views. If MARA Holdings’ recent volatility has you thinking about portfolio balance, this could be a good moment to broaden your search with 20 cryptocurrency and blockchain stocks The business case for MARA Holdings rests on its energy and compute platform, but after a steep share price reset and a swing to heavy losses, is the stock now cheap for the risk you take, or still demanding? The most followed narrative currently puts MARA Holdings' fair value at $18.13, compared with the last close at $8.96. That gap hinges on a very specific earnings and margin story playing out over time. Read the complete narrative. Read the complete narrative. Want to understand why this narrative sees MARA Holdings almost doubling from today’s price? It hinges on a shift in revenue mix, a step change in margins, and a long runway of projected demand for high performance compute. The exact assumptions behind those projections might surprise you. Result: Fair Value of $18.13 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, MARA Holdings still leans heavily on bitcoin mining, and quieter crypto trading or tougher regulation could slow cash generation and delay the AI compute shift. Find out about the key risks to this MARA Holdings narrative. While the popular narrative frames MARA Holdings as undervalued on future earnings and margin potential, the current sales-based lens looks harsher. The stock trades on a P/S of 4.3x, above the US Software industry at 3.8x and far above a fair ratio estimate of 1.2x, even though it is below a 6.9x peer average. That gap raises a simple question for investors: Is the market already pricing in a lot of future success before profits arrive? See what the numbers say about this price in the valuation breakdown with See what the numbers say about this price — find out in our valuation breakdown. If the mix of optimism and caution around MARA Holdings feels hard to balance, move quickly to review the details yourself and stress test the assumptions. To understand what could go wrong, start with the 2 important warning signs. Before moving on from MARA Holdings, give yourself a stronger watchlist by lining up alternatives that match your goals on value, income, and risk. Target potential bargains by scanning companies that combine quality fundamentals with appealing prices using the 50 high quality undervalued stocks. Strengthen your income stream by reviewing stocks with higher yields and resilient payout profiles through the 11 dividend fortresses. Prioritise resilience by focusing on companies with sturdier balance sheets and financials using the solid balance sheet and fundamentals stocks screener (50 results). This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MARA. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

HIVE Digital Technologies Ltd. HIVE is slated to report first-quarter 2026 results on Aug. 14, after the market closes. The company’s quarterly results are likely to display a year-over-year increase in revenues but a dip in earnings per share (EPS). In the last reported quarter, this bitcoin miner reported a loss of 28 cents per share, wider than the Zacks Consensus Estimate of a loss of 21 cents. HIVE’s performance was mainly impacted by a sharp decline in Bitcoin prices and record-high network difficulty, which compressed hash price and mining margins. Over the preceding four quarters, HIVE’s EPS lagged the Zacks Consensus Estimate on three occasions and outpaced it in the remaining, the average miss being 66.37%. This is depicted in the graph below: HIVE Digital Technologies Ltd. price-eps-surprise | HIVE Digital Technologies Ltd. Quote HIVE Digital Technologies’ fiscal first-quarter 2026 results are expected to reflect continued expansion of its Bitcoin mining capacity, supported by the ongoing ramp-up of its Paraguay operations. Higher operating hash rate, improved fleet efficiency and comparatively attractive power costs in Paraguay and New Brunswick should have supported Bitcoin production, mining revenues and gross mining margins, although the magnitude of the improvement will remain sensitive to Bitcoin prices and network difficulty. The BUZZ high-performance-computing business is also likely to provide an incremental contribution after reaching an annualized revenue run rate of more than $20 million and benefiting from strong utilization of HIVE’s roughly 5,100-GPU installed base. However, the larger Toronto AI data-center opportunity is unlikely to have been a meaningful first-quarter contributor, given management’s indicated nine-to-12-month retrofit timeline. Profitability could have remained constrained by elevated depreciation, expansion-related operating expenses and higher G&A as HIVE builds out Paraguay and its HPC platform, while GAAP earnings may have been volatile because digital assets are marked to fair value under U.S. GAAP. The Zacks Consensus Estimate for first-quarter revenues is pegged at $80.06 million, implying a 75.53% increase from the prior-year quarter’s reported number. HIVE’s activities in the to-be-reported quarter were inadequate in garnering analysts’ confidence. The Zacks Consensus Estimate for first-quarter EPS has remained unchanged at negative 21 cents over the past three months. It suggests a significant decline from the year-ago quarter’s tally. Our proven model does not conclusively predict a surprise in terms of EPS for HIVE this quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an EPS beat, which is not the case here. HIVE has an Earnings ESP of 0.00% and currently carries a Zacks Rank of 3. You can uncover the best stocks before they’re reported with our Earnings ESP Filter. MARA Holdings MARA reported a second-quarter 2026 adjusted loss of $1.60 per share. Results reflected the impact of lower Bitcoin prices and higher costs. Riot Platforms RIOT reported a second-quarter 2026 adjusted loss of 68 cents per share. The EPS fall came despite higher revenues, as lower Bitcoin prices weighed on profitability. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HIVE Digital Technologies Ltd. (HIVE) : Free Stock Analysis Report Marathon Digital Holdings, Inc. (MARA) : Free Stock Analysis Report Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Bit Digital, Inc. BTBT reported a second-quarter 2026 loss of 6 cents per share, wider than the year-ago loss of 3 cents and missing the Zacks Consensus Estimate of a 5-cent loss. Rising costs affected the bottom line. Revenues rose 25.1% year over year to $32.11 million and beat the consensus mark by 47.9%. Growth was led by cloud and colocation services, while remaining performance obligations stood at approximately $1 billion at quarter-end. Bit Digital, Inc. price-consensus-eps-surprise-chart | Bit Digital, Inc. Quote Cloud services revenues increased 43.5% year over year to $23.8 million and rose 42% sequentially. The company attributed the year-over-year increase primarily to more deployed GPU servers serving new and existing customers. The segment generated an approximately 58% gross margin. The termination of an agreement with an initial customer reduced monthly GPU service revenue, but a $12.3 million termination fee substantially offset that impact. WhiteFiber, Inc. WYFI also continued adding business. New multi-year cloud agreements signed since its previous earnings call carry more than $540 million in combined contract value. The signed contracts indicate the portfolio will likely generate over $200 million of annualized revenues after full deployment. Colocation services contributed $4.7 million in second-quarter revenues and maintained an approximately 63% gross margin. Revenues were nearly unchanged from the first quarter, while the first-half total increased 182% from the prior-year period. The NC-1 campus did not contribute to second-quarter results and is expected to begin adding revenues in the third quarter. Mining continued to shrink as Bit Digital redirects capital elsewhere. The business generated $2.4 million in revenues from 32.3 bitcoin mined, down from 48.1 bitcoin in the preceding quarter. ETH staking revenues totaled $0.9 million, up 147.4% year over year but below $2.3 million in the first quarter. Native staking produced 440.1 ETH during the quarter compared with 166.8 ETH a year earlier, helping offset the impact of a lower average ETH price. The sequential revenue decline reflected a change in how the company deployed part of its ETH holdings. Bit Digital shifted ETH into liquid staking to provide collateral for financing tied to WhiteFiber. At June-end, the company held approximately 164,310.5 ETH, including ETH-equivalent positions associated with liquid staking and an externally managed fund. Second-quarter gross profit was $18.6 million, translating into a gross margin of 57.9%. Profitability below the gross-profit line was pressured by several sizable charges, including a $46 million impairment related to LsETH and $28.8 million of losses on digital assets. The quarter also included a $5 million impairment of capitalized software assets. Interest costs added another layer of pressure as the company carried convertible notes, collateralized borrowing and other credit facilities. Total operating expenses reached $114.7 million in the second quarter. Operating activities generated $46.8 million of cash during the first six months of 2026, up 33% from the comparable 2025 period. Cash and cash equivalents stood at approximately $83.6 million at June 30, with $27.5 million held by Bit Digital and $56.1 million at WhiteFiber. Bit Digital also raised $50 million against part of its ETH treasury and used its balance sheet to provide WhiteFiber with a delayed-draw term facility carrying commitments of up to $150 million. The structure supplied capital for growth projects, including NC-1, without requiring an ETH sale or new equity issuance by either company. Contract liabilities rose to $143.1 million from $79.6 million at the end of 2025. The company doesn’t plan to sell WhiteFiber shares in 2026. BTBT currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Peers including MARA Holdings, Inc. MARA and Riot Platforms, Inc. RIOT have also posted second quarter 2026 results. MARA Holdings came out with a quarterly adjusted loss of 70 cents per share, wider than the Zacks Consensus Estimate of a loss of 56 cents. However, the bottom line improved from a loss of 81 cents per share a year ago. MARAposted revenues of $174.88 million for the quarter ended June 2026, which missed the Zacks Consensus Estimate by 16.1% and decreased from $238.49 million a year ago. Riot Platforms posted a loss of 68 cents per share compared with the Zacks Consensus Estimate of a loss of 39 cents. Revenues of $174.2 million beat the $148.7 million consensus by 17.20%. It delivered AMD’s initial 25 MW in May on schedule and on budget, bringing recurring operating lease revenues onto the platform. Riot’s Engineering revenues reached $37.3 million, and gross margin was 27.5%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bit Digital, Inc. (BTBT) : Free Stock Analysis Report Marathon Digital Holdings, Inc. (MARA) : Free Stock Analysis Report Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report WhiteFiber, Inc. (WYFI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MARA Holdings (NASDAQ: MARA) sold 23,093 bitcoin for roughly $1.6 billion during the first half of 2026, its Aug. 6 filing showed, expanding on a previously announced March sale and detailing how the company is using its bitcoin treasury to reduce debt and support infrastructure growth. The company received an average of $70,631 per bitcoin, according to its Aug. 6 Form 10-Q. MARA ended June with 35,577 bitcoin worth approximately $2.1 billion, down from 53,822 bitcoin valued at $4.7 billion at the end of 2025. MARA’s treasury policy shifted over time. In 2025, the company started permitting newly mined bitcoin to be sold, and in 2026 it broadened that approach to coins already on its balance sheet. MARA can now buy or sell bitcoin according to market conditions and capital-allocation priorities. MARA classified the $1.6 billion of sale proceeds as investing cash flow. Net cash provided by investing activities reached $1.47 billion, after accounting for $94.3 million of property and equipment purchases and $61.1 million of acquisition spending, net of acquired cash. Operating activities used $471.3 million during the first half, compared with $378.9 million a year earlier. Financing activities used another $1.12 billion. The biggest financing outflow was $912.8 million used to buy back about $1 billion of principal across MARA’s zero-coupon convertible notes due 2030 and 2031. The company carried out those repurchases at roughly a 9% discount to par and recognized a $70.6 million gain from extinguishment. MARA sold 15,133 bitcoin for approximately $1.1 billion between March 4 and March 25 to finance most of those purchases. Chairman and CEO Fred Thiel said in March that the transaction “reduced potential shareholder dilution, and leveraged our bitcoin holdings to meaningfully de-lever the balance sheet on our terms.” MARA retained 26,307 unrestricted bitcoin worth about $1.5 billion at June 30. It had loaned 4,742 bitcoin to third parties and pledged another 4,528 bitcoin as collateral. Bitcoin lending generated $10.7 million of first-half interest income. Two days before filing the 10-Q, MARA closed bitcoin-backed facilities with Coinbase Credit and Two Prime, unlocking $600 million in additional borrowing capacity. The transactions also refinanced its existing $150 million Coinbase loan, bringing the combined facilities to $750 million. MARA pledged 18,750 bitcoin worth approximately $1.2 billion at closing. Both facilities include collateral-maintenance requirements that could force MARA to post additional bitcoin if its value falls below contractual thresholds. MARA expects to direct the proceeds toward general corporate uses, including part of the cash price for its proposed $1.5 billion acquisition of Long Ridge Energy & Power. Long Ridge owns a 485 MW gas-fired power plant and more than 1,600 acres beside MARA’s existing operations in Hannibal, Ohio. Update (August 10, 2026): Updated headline and first two paragraphs to clearly state sales occurred over the period, with a further sale and purpose of sale documented in Q2 2026 Earnings documents.

This article first appeared on GuruFocus. Revenue: $174.9 million in Q2 2026, down from $238.5 million in the prior year period. Net Loss: $611.3 million, or -$1.6 per diluted share, compared to net income of $808.2 million, or $1.84 per diluted share, in Q2 2025. Adjusted EBITDA: -$360.9 million, impacted by Bitcoin mark-to-market changes, versus $1.2 billion in the prior year period. Bitcoin Production: Mined 2,422 Bitcoin (26.6 per day), up 64 Bitcoin year-over-year; won 700 blocks, up 1% year-over-year. Bitcoin Holdings: 35,577 Bitcoin at quarter end, valued at approximately $2.1 billion at a $58,524 spot price. Energized Hashrate: 70.3 exahash per second, up 22% from 57.4 in Q2 2025. Cost per Petahash: Improved 4% year-over-year to $27.7 from $28.7. Cost per Kilowatt-Hour: $0.04 for own sites in Q2 2026. Purchased Energy Cost per Bitcoin: $38,690 for own mining sites, up from $33,735 in Q2 2025. G&A Expenses (excl. stock-based compensation): $69.5 million, up from $40.1 million; underlying G&A was approximately $43.9 million excluding acquisition and litigation costs. Cash and Liquidity: $421.3 million in cash and cash equivalents; approximately $2.5 billion in combined cash and Bitcoin. Digital Asset Interest Income: $4.3 million from loaned Bitcoin under digital asset management strategy. Warning! GuruFocus has detected 7 Warning Signs with MARA. Is MARA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MARA Holdings Inc (NASDAQ:MARA) is expanding its power portfolio to approximately 4.8 GW, more than doubling its current capacity and positioning it as one of the largest holders of digital infrastructure power capacity. The pending Long Ridge acquisition is expected to contribute approximately $144 million in annualized EBITDA and durable free cash flow, with roughly 70% of its output secured under long-term contracts. MARA Holdings Inc (NASDAQ:MARA) secured $600 million in non-dilutive Bitcoin-backed credit facilities with Coinbase and Two Prime, preserving exposure to Bitcoin's potential appreciation while funding the Long Ridge acquisition. The company's daily cost per petahash improved 4% year-over-year to $27.7, and its cost per kilowatt-hour for own sites was $0.04, maintaining one of the lowest cost structures in the industry. Commercial momentum is building, with lease discussions progressing across multiple sites and management confident in signing at least two leases before year-end, supported by the Starwood partnership. The Matagorda County site acquisition adds up to 2 GW of potential capacity, with no required utility infrastructure improvements, and is expected to support the transition away from hosted mining, improving operational control and unit economics. MARA Holdings Inc (NASDAQ:MARA) reported a net loss of $611.3 million for Q2 2026, driven largely by a $343 million unrealized mark-to-market adjustment on digital assets due to the drop in Bitcoin price. Revenues declined to $174.9 million from $238.5 million in the prior year period, primarily due to a 28% decrease in Bitcoin's average price, which reduced revenue by $65.9 million. The company's adjusted EBITDA was negative at -$360.9 million, dominated by the Bitcoin mark-to-market change, compared to $1.2 billion in the prior year period. General and administrative expenses increased significantly to $69.5 million from $40.1 million, including $15.4 million in acquisition and integration costs and a $10.2 million litigation settlement. The Bitcoin price environment remains challenging, with continued pressure on mining economics and higher network difficulty driving purchased energy cost per Bitcoin up to $38,690 from $33,735 year-over-year. MARA Holdings Inc (NASDAQ:MARA) has pledged 54% of its Bitcoin holdings as collateral under borrowings, increasing financial leverage and exposure to Bitcoin price volatility. Q: What is the status of the Long Ridge acquisition, and are there any hurdles to closing? A: Fred Thiel, Chairman and CEO, stated that no feedback has been received yet, and he does not anticipate any obstacles to approval. He expects FERC to respond before year-end, and likely much sooner, noting that a similar acquisition by Wolf recently received approval. Q: Are you in a holding pattern with potential HPC customers at Hannibal until the Long Ridge deal closes? A: Fred Thiel clarified that while they are in a holding pattern for signing a lease, they are actively engaged with prospective tenants on design, fiber layout, and permitting. The discussions are progressing at the same pace as if the deal had already closed, with nothing holding them back other than the transaction's finalization. Q: How are the recent Texas audit processes affecting interest or pricing on your energized sites? A: Fred Thiel noted broad demand across multiple sites with several tenants in discussions. He believes the audit process will flush out "phantom" requests in the queue, which is positive for MARA. He expressed confidence in the Matagorda site's position, as it requires no utility infrastructure improvements and is close to power generation sources in a major power market. Q: Can you provide more color on the purchase structure for the Matagorda County site? A: Fred Thiel explained that the deal includes contingencies tied to the Batch Zero approval process, allowing MARA to wait for approval but with a terminal point to close or step away. CFO Salman Khan added that the structure aligns MARA's and the counterparty's interests with the project's development, benefiting both parties as progress is made. Q: How should we think about the revenue opportunity from Exaion and HUM? A: Fred Thiel stated that HUM has no contractual revenues and will not be material in the near term, but could be an eight-digit annual business. Exaion's revenues are expected to be in the low eight digits this year, with strong long-term growth potential driven by sovereign AI demand and the increasing adoption of open-source models, which is Exaion's specialty. Q: Have your views on the Starwood partnership changed as you get closer to executing transactions? A: Fred Thiel said demand has been greater than initially expected, and the quality of discussions brought by Starwood has exceeded expectations. He noted the professionalism of the team in driving build and design conversations, and while the financial calculus remains unchanged, he is very pleased with the partnership's progress. Q: What performance and economic thresholds must the hybrid energy storage prototype with TAE Power Solutions meet before broader development? A: Fred Thiel explained that the technology, integrated into their Vertebra AI platform, is already being used for load following at their wind farm. He highlighted its potential as a "load bank" for starting up new data centers, which is a significant use case, and expects to see strong utilization in that area. Q: How do you plan to monetize Slipstream further, given recent events with Coldcard wallets? A: Fred Thiel said Slipstream is a tool controlled by the MARA Foundation, focused on supporting Bitcoin's safety and development. It is currently viewed as a utility for the community rather than a revenue generator. However, if demand for non-traditional transaction payloads increases, Slipstream could become a revenue-generating product in the future. Q: How should we think about the percentage of non-hosted capacity being evaluated for AI, given the addition of Matagorda? A: Fred Thiel clarified that about 30% of their Bitcoin mining portfolio is hosted today, and the 90% figure refers to the owned and operated portion. As hosting contracts expire, they can reallocate that hashrate to Matagorda, monetizing the power with mining while AI data centers are being built, which lowers their cost of mining and provides a symbiotic shift. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management characterizes power as the central infrastructure challenge of the AI era, positioning MARA's decade of experience in securing and operating large-scale power assets as a primary competitive advantage. The company is transitioning from a pure-play Bitcoin miner to an integrated digital infrastructure platform, using mining as a flexible 'load bank' to monetize power while AI facilities are designed and permitted. Strategic focus is shifting toward owning and developing scarce, energized power sites to meet accelerating demand from hyperscalers and AI native cloud providers who face a supply-demand imbalance in power-ready sites. The acquisition of the Matagorda County site and the pending Long Ridge transaction are intended to double power capacity to 4.8 GW, providing the scale necessary to support long-term customer relationships. Exaion is being positioned to capture the 'sovereign AI' market, targeting European enterprises and public sectors that require data residency and infrastructure control under EU regulatory frameworks. Technology initiatives like Vertebra AI and Hashrate Under Management (HUM) are designed to improve internal asset utilization while creating new revenue streams by optimizing power allocation for external customers. Management expects to sign at least two AI infrastructure leases before the end of the year, focusing on a diversified customer base including hyperscalers and silicon vendors. The Long Ridge acquisition is projected to contribute approximately $144 million in annualized EBITDA upon closing, with 70% of its power output already secured under long-term contracts. Operational strategy involves phasing out third-party hosting agreements by Q1 2028, moving capacity to wholly owned sites like Matagorda to improve unit economics and operational control. Future capital allocation will be determined dynamically based on where each megawatt creates the most value, whether in Bitcoin mining, AI infrastructure, or sovereign cloud services. The company plans to host an Investor Day later this year to provide a deeper look at the integrated strategy and demonstrate the earnings power of the assembled infrastructure portfolio. Reported a net loss of $611 million, largely driven by a $343 million unrealized mark-to-market fair value adjustment due to a 28% decrease in Bitcoin's average price during the quarter. Activated Bitcoin reserves as a non-dilutive funding source by entering into $600 million in Bitcoin-backed credit facilities to fund the Long Ridge acquisition. G&A expenses were impacted by $15.4 million in acquisition and integration costs and a $10.2 million litigation settlement related to a patent dispute. The Matagorda County site acquisition is structured with milestone-based contingencies, aligning payments with ERCOT and interconnection approvals to mitigate development risk. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects FERC approval and closing before year-end, noting that recent approvals for industry peers suggest a clear path forward. Lease discussions for the Hannibal campus are progressing in parallel with the closing process, with active engagement on design and fiber layout already underway. Management believes the Texas audit process will 'flush out' phantom power requests in the queue, benefiting legitimate projects like Matagorda. The site is considered highly attractive because it requires no new utility infrastructure improvements and has multiple existing transmission lines. Exaion is expected to generate low 8-digit revenues this year, with growth driven by demand for sovereign compute and open-source AI model management. HUM (Hashrate Under Management) is already generating contractual revenues and is described as an 8-digit annual business that provides stability to mining pools. Matagorda will serve as a transition site for hash rate currently in hosted environments, lowering mining costs while AI data centers are being built. This 'symbiotic shift' allows MARA to monetize power immediately through mining and gradually reallocate it to AI tenants as infrastructure matures over 18-24 months.

MARA Holdings (MARA) and CleanSpark (CLSK) reported heavy losses on August 6, extending a slump across public Bitcoin (BTC) miners as falling prices triggered large non-cash valuation losses. Both firms leaned on their pivot toward artificial intelligence and data center infrastructure, joining rivals TeraWulf, Core Scientific, and Cipher in betting that compute capacity can offset shrinking returns from Bitcoin production. MARA Holdings posted a second-quarter net loss of $611.3 million, or $1.60 per share. That reversed an $808.2 million profit a year earlier. Revenue fell 27% to $174.9 million, missing forecasts. The company tied roughly $343 million of the loss to mark-to-market declines on its Bitcoin holdings. CleanSpark reported fiscal third-quarter revenue of $138 million, down 30.5% year-over-year. Its net loss reached $239.8 million, against a profit last year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) swung to negative $113 million. A fair-value loss on Bitcoin of over $116 million added to the decline. Combined, MARA and CleanSpark booked $851.1 million in net losses for the quarter, with Bitcoin fair-value markdowns accounting for roughly $459 million of that. The results mirror an earlier quarterly loss at both miners. Rival Hut 8 followed the same pattern days before. Meanwhile, both stocks fell during Thursday's regular session. MARA was down 5.25% to $10.65, and CleanSpark dipped 5.56% to $12.75, according to Google Finance. The miners released results after the close. In after-hours trading, MARA edged up 0.38% to $10.69, and CleanSpark climbed 2.75% to $13.10. Follow us on X to get the latest news as it happens The losses have not slowed the sector's race into AI. CleanSpark signed a 20-year lease valued at $6.6 billion at Sandersville. The deal includes a high-investment-grade tenant and adds long-term cash flow. MARA framed mining and AI as two uses of the same resource. The company runs 19 data centers and holds rights to a 2-gigawatt (GW) site in Texas. Other miners have also leaned into leasing. TeraWulf’s (WULF) high-performance computing (HPC) rentals made up 71% of its $44.8 million in revenue. Its 20-year Anthropic lease represents about $19 billion in contracted revenue. Core Scientific (CORZ) posted a $1.155 billion loss on $164.2 million in revenue. It unveiled an AMD deal covering up to 2.5 GW of capacity. Most of the revenue lands years out. Whether AI leasing can cover shrinking mining returns will define the coming quarters. Subscribe to our YouTube channel to watch leaders and journalists provide expert insights https://youtu.be/kKIiqJ-3NMU Read the Original story MARA and CleanSpark Post $851 Million in Combined Quarterly Losses by Kamina Bashir at beincrypto.com

Interested in Marathon Digital Holdings, Inc.? Here are five stocks we like better. MARA is pivoting toward AI infrastructure by leveraging its power, land and data-center assets, with plans to pursue AI and high-performance computing leases. Its pending Long Ridge acquisition and a 1,200-acre Texas site could expand its power portfolio to approximately 4.8 gigawatts. The company secured up to $600 million in Bitcoin-backed credit facilities to help finance the Long Ridge acquisition, which it expects to add about $144 million in annualized EBITDA once completed. However, 54% of MARA’s Bitcoin holdings were pledged as collateral after the new financing. Second-quarter revenue fell to $174.9 million and MARA posted a $611.3 million net loss, largely because of Bitcoin’s lower value and related unrealized losses. Operationally, Bitcoin production rose 3% to 2,422 coins while energized hashrate increased 22% year over year. CleanSpark Inks a $6.6B AI Lease to Become a Digital Landlord Marathon Digital (NASDAQ:MARA) outlined a strategy to expand beyond Bitcoin mining into AI-focused digital infrastructure, while reporting lower second-quarter revenue and a net loss driven largely by a decline in the value of its Bitcoin holdings. Chairman and CEO Fred Thiel said the company is positioning its power, land and compute assets to address growing demand for AI data-center capacity. He described power availability as a central constraint for AI infrastructure and said MARA’s experience operating 19 data centers across four continents gives it an established base from which to pursue the opportunity. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Game On: Wall Street's New Rules and Your Money “The question is no longer who can fund the next wave of compute, it is who has the power,” Thiel said. “That question goes directly to MARA’s strengths.” MARA advanced its pending acquisition of Long Ridge and, after the quarter ended, acquired rights to a 1,200-acre powered-land site in Matagorda County, Texas. The Texas site could support up to 2 gigawatts of capacity, subject to ERCOT and interconnection approvals. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Risk-Off: Global Trade Uncertainty Is Shaking Crypto, But Not These 2 Stocks Upon completion of the Long Ridge transaction and the required approvals, MARA expects its power portfolio to reach about 4.8 gigawatts, more than doubling its current capacity. Thiel said the Matagorda location could provide sufficient wholly owned capacity to support a transition away from hosted mining as existing agreements expire. The company said its largest third-party hosting arrangements are scheduled to begin expiring in the third quarter of 2027, with all such arrangements ending by the first quarter of 2028. MARA expects the shift toward owned capacity to eliminate third-party hosting costs and improve its cost per kilowatt-hour. → Ulta's Growth Is Real, But So Are the Risks Thiel said MARA is in lease discussions with prospective AI and high-performance computing customers across multiple sites and remains confident it can sign at least two leases before year-end. He said discussions related to the Hannibal campus are proceeding despite the pending Long Ridge closing, including work on prospective tenants’ facility design, fiber and permitting requirements. Regarding the Long Ridge deal, Thiel said MARA had not received feedback from regulators but did not believe there was anything expected to block approval. The company expects a Federal Energy Regulatory Commission response before year-end, and said it expects it sooner. Chief Financial Officer Salman Khan said MARA secured approval from holders of Long Ridge’s senior secured notes to assume the notes at closing. Following the quarter, the company also entered into two Bitcoin-backed credit facilities with Coinbase and Two Prime, providing up to $600 million of incremental borrowing at a weighted average cost of debt of 7.56%. MARA refinanced and consolidated an existing $150 million Coinbase facility into the new Coinbase facility. The prior borrowing, which had been due in the first quarter of 2027, will now mature in two years along with the additional borrowings. Khan said the company plans to use the facilities, along with assumed Long Ridge indebtedness, to fund the acquisition. He described the transaction as a $1.5 billion enterprise-value acquisition financed through Bitcoin-backed debt and the assumption of Long Ridge’s balance-sheet obligations. Once completed, MARA expects Long Ridge to contribute about $144 million of annualized EBITDA and durable free cash flow. Roughly 70% of Long Ridge’s power output is secured under long-term contracts, according to the company. At quarter-end, MARA had $421.3 million in cash and cash equivalents and about $2.5 billion in combined cash and Bitcoin. It held 35,577 Bitcoin, valued at roughly $2.1 billion based on a $58,524 spot price. About 26%, or 9,270 Bitcoin, were loaned or pledged as collateral at the end of the quarter. Khan said that following the new financing, 54% of the company’s Bitcoin holdings had been pledged as collateral under its borrowings. Revenue for the second quarter was $174.9 million, down from $238.5 million in the prior-year period. Khan said Bitcoin production contributed a $7.2 million year-over-year revenue increase, but that benefit was offset by a 28% decline in Bitcoin’s average price, which reduced revenue by $65.9 million. Other revenue declined by about $4.9 million, primarily due to lower digital-asset revenue and the elimination of hosting services. MARA mined 2,422 Bitcoin during the quarter, or 26.6 Bitcoin per day, up about 64 Bitcoin from the prior-year period. The company won 700 blocks, up 1% year over year and 8% sequentially. Energized hashrate was 70.3 exahash per second, up 22% from 57.4 exahash per second a year earlier. Its share of available mining rewards reached 5.9%, compared with 5.5% in the first quarter. MARA reported a net loss of $611.3 million, or $1.60 per diluted share, compared with net income of $808.2 million, or $1.84 per diluted share, a year earlier. Khan said approximately $343 million of the quarterly net loss stemmed from an unrealized fair-value adjustment on digital assets following the decline in Bitcoin’s price. Adjusted EBITDA was negative $360.9 million, compared with $1.2 billion in the prior-year quarter, also reflecting the Bitcoin mark-to-market change. Khan said each $10,000 change in Bitcoin’s price produces an approximate $350 million impact on the fair value of digital assets reported in MARA’s income statement. Thiel said MARA’s Exaion business is intended to serve the sovereign AI infrastructure market, particularly European enterprises and public-sector organizations that require data, infrastructure and operations to remain governed under European jurisdiction. Exaion operates critical infrastructure supporting EDF’s nuclear reactor operations and was selected for the EON consortium, an EU-backed initiative targeting approximately 3 gigawatts of AI-ready data-center capacity, he said. During the question-and-answer session, Thiel said Exaion’s revenue for 2026 is expected to be in the “low eight digits” and should grow as the business adds customers beyond EDF. He also said MARA’s Hashrate Under Management platform has no contractual revenue and is not expected to be material to overall revenue in the near term, though he characterized it as an eight-digit annualized business. The company also highlighted Vertebra AI, a platform developed to manage power allocation and infrastructure performance in real time. Thiel said the technology has helped MARA add computing capacity within the same electrical footprint and could have applications in AI data centers, power generation and data-center commissioning. Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance. The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Marathon Digital Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Oportun Financial Corporation (OPRT) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +27.27%. A quarter ago, it was expected that this company would post earnings of $0.21 per share when it actually produced earnings of $0.21, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Oportun Financial, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $233.2 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.88%. This compares to year-ago revenues of $234.3 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Oportun Financial shares have added about 13.6% since the beginning of the year versus the S&P 500's gain of 13%. While Oportun Financial has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Oportun Financial was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.41 on $236.05 million in revenues for the coming quarter and $1.53 on $941.98 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Marathon Digital Holdings, Inc. (MARA), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This company is expected to post quarterly loss of $0.56 per share in its upcoming report, which represents a year-over-year change of +30.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Marathon Digital Holdings, Inc.'s revenues are expected to be $208.49 million, down 12.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oportun Financial Corporation (OPRT) : Free Stock Analysis Report Marathon Digital Holdings, Inc. (MARA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This earnings season, several crypto companies are reporting their financial results for the second quarter of the year. Last week, Robinhood Markets (Nasdaq: HOOD), Coinbase Global (Nasdaq: COIN), and Strategy (Nasdaq: MSTR) reported the earnings for Q2 2026. Related: U.S. and Japan rush to rescue the yen, but one market won't flinch Robinhood posted $1.31 billion in revenue and $0.62 in earnings per share (EPS), beating Wall Street estimates of $1.26 billion in revenue and $0.41 in EPS. Coinbase posted $1.22 billion in revenue, short of the estimated figure of $1.29 billion to $1.31 billion. However, it generated a negative EPS of $1.36, as compared to the range between -$0.42 and $0.14. Strategy generated $122.4 million in revenue and a negative EPS of $24.45, missing the estimates of $122.91 million and $2.19. As more crypto companies report earnings this week, here is what Wall Street expects. Cathie Wood trims Ethereum exposure on 11th anniversary U.S. Treasury attacks Iran's Hormuz 'extortion' network JPMorgan issues blunt warning on crypto's future Circle Internet Group (NYSE: CRCL) is a major crypto company that is best known for USDC, its U.S. dollar-pegged stablecoin. Last week, it announced that it had received a limited-purpose trust charter from the New York Department of Financial Services, allowing its Circle New York Trust to oversee USDC reserves and provide institutional digital asset custody services. The company will report the financial results for Q2 2026 on Aug. 5. As per TradingView, Wall Street expects Circle to post $713.70 million in revenue and $0.16 in EPS. Ahead of the earnings, Morgan Stanley slashed the price target on the Circle stock by 64% from $106 to $38 and granted it an Underweight rating, citing slowing USDC adoption and weaker reserve income prospects. Following the downgrade, the Circle stock fell more than 4.5% to trade at $59.67 at press time. Related: Morgan Stanley downgrades Circle, slashes price target by 64% Founded by billionaire investor Michael Novogratz, Galaxy Digital (Nasdaq: GLXY) is a financial services and infrastructure company focused on digital assets. Last week, the company announced the acquisition of around 500 acres in McGregor, Texas, for its second major artificial intelligence (AI) and high-performance computing (HPC) campus in the state. Galaxy Digital will report the financial results for Q2 2026 on Aug. 5. As per TradingView, Wall Street expects the company to post $9.63 billion in revenue and a negative EPS of $0.40. The stock was trading at $21.82 at press time, up 3.8% in a day. MARA Holdings (Nasdaq: MARA) is the world's largest publicly listed Bitcoin (BTC) mining company. The company revealed in March that it sold 15,133 BCTC for approximately $1.1 billion amid the price slump. The company will report the financial results for Q2 2026 on Aug. 6. As per TradingView, Wall Street expects MARA to post $209.44 million in revenue and $0.17 in EPS. The stock was trading at $11.78 at press time, up 4% in a day. Related: Major crypto exchange eyes IPO amid market slump This story was originally published by TheStreet on Aug 3, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.