Technology
Price
$12.40
-7.25%Market Cap
$4.73B
Day High
$14.09
Day Low
$11.98
MARA Holdings reported a sharp Q1 2026 deterioration, with revenue falling 18.4% YoY to $174.6M, operating losses nearly doubling to -$1.06B, and EPS worsening to -$3.31, driven by Bitcoin market volatility and elevated operational costs.
Key risk: Bitcoin Price Volatility Risk
MARA's revenue and profitability are almost entirely dependent on Bitcoin prices. A sustained decline in Bitcoin's market value directly reduces mining revenue and the value of MARA's Bitcoin holdings, as evidenced by the 18.4% revenue drop and -$1.06B operating loss in Q1 2026. This concentration risk makes earnings highly unpredictable.