Bitcoin miners turned AI infrastructure providers reported softer quarterly results Thursday, with MARA Holdings posting second-quarter 2026 revenue of $174.9 million, down 27% from $238.5 million a year earlier, and CleanSpark, reporting its third fiscal quarter ended June 30, claiming $138.0 million in revenue, a 30.5% decline from $198.6 million a year prior.
Both firms have been investing in expanding their high-performance computing business lines amid growth in the AI sector and the rising difficulties of mining bitcoins.
MARA's net loss widened to $611.3 million, or $1.60 per diluted share, versus net income of $808.2 million in the year-ago period, driven in part by a $343 million fair-value loss on digital assets.
Adjusted EBITDA swung to a $360.9 million loss from a $1.2 billion profit.
MARA mined 2,422 BTC during the period at an average price of about $71,325 and sold 2,213 BTC at an average of $73,078.
