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Marathon Digital Q1 Revenue Drops 18% to $174.6M, Maintains Bitcoin Mining Focus

GateNews
bitcoin news
BTC-0.81%

According to The Block, Marathon Digital Holdings (MARA) reported first-quarter 2026 results on Monday, with revenue falling 18% year-over-year to $174.6 million from $213.9 million a year earlier. Net losses widened to $1.3 billion, primarily due to unrealized losses on its 38,689 bitcoin holdings. The company emphasized that bitcoin mining remains the “operational foundation” of its business despite expanding into AI and digital infrastructure. Near the end of the quarter, MARA sold approximately $1.1 billion worth of bitcoin to retire debt, causing its public treasury ranking to drop from second to fourth place.

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