Crypto Miners & Treasury Earnings & Financial Results — Latest Quarter

MARA reported a sharp net loss in Q2 FY2026, driven by a $342.7 million unrealized bitcoin loss, spotlighting the company's exposure to cryptocurrency volatility amid strategic moves into AI infrastructure.

CleanSpark swung to a $239.8 million net loss in Q3 FY2026 as a $116.3 million Bitcoin fair value loss and a 31% revenue drop overwhelmed a landmark AI data center lease, underscoring its vulnerability to crypto market swings.

TeraWulf pivoted to HPC data center leasing in Q2 FY2026, with HPC generating 71% of revenue, but net losses widened dramatically due to one-time charges and heavy buildout spending, while post-quarter deals with Anthropic and the Abernathy divestiture highlighted its infrastructure ambitions and capital recycling.

Cipher Digital reported a $267.5 million net loss in Q2 FY2026, driven by non-cash warrant liability revaluation, while accelerating its transformation into an HPC data center developer with expanded project pipeline and billions in financing.

Strategy reported a net loss of $8.2 billion in Q2 FY2026 due to an $8.3 billion unrealized loss on its bitcoin holdings, even as software revenue grew 6.9% and its bitcoin stash rose to 846,000 coins.

In Q2 FY2026, Robinhood Markets delivered strong financial results with revenue increasing 32.3% YoY to $1.31B and net income rising 45.3% YoY to $561M, driven by rapid growth in event contracts, options trading, and Robinhood Gold subscriptions.

In Q2 FY2026, Coinbase reported an 18.5% year-over-year revenue decline to $1.22B and a net loss of $359.5M, driven by lower consumer crypto spot trading volumes and fair value losses on crypto assets held for investment.

Core Scientific's Q2 FY2026 revenue more than doubled year-over-year to $164.2M driven by rapid colocation capacity ramp with CoreWeave, but the company posted a $1.16B net loss (vs $936.8M loss a year ago) largely due to a $1.05B non-cash change in fair value of warrants, while stockholders' equity remained deeply negative at -$2.42B following a major debt-funded capital raise for data center expansion.

RIOT reported a modest 3.6% revenue increase to $167.2M in Q1 FY2026, but operating losses deepened sharply to -$499.9M (down 113.7% YoY), driven by surging costs and impairments, resulting in a net loss of -$500.5M and EPS of -$1.44.