Mining company MARA (Marathon Digital Holdings) has published financial results for the first half of 2026, reporting sales of 23,093 bitcoins totaling about $1.6 billion. The average selling price of the asset in the reporting period was $70,631 per coin. The proceeds were used to finance operational activities, support strategic growth, and manage corporate liquidity. As of June 30, the company had 35,577 BTC on its balance sheet, with an estimated value of $2.08 billion. A significant portion of these assets, namely 9,270 bitcoins, were involved in the capital management strategy: 4,742 coins were loaned to third parties, and another 4,528 bitcoins were used as collateral for the company's financial obligations.

The financial performance of the organization showed a significant deterioration compared to the same period last year. MARA's total revenue for the six months decreased to $349.5 million from $452.4 million a year earlier. Income directly from bitcoin mining decreased from $436.5 million to $342.2 million, despite a slight increase in mining volumes from 4,644 to 4,669 coins. The company's management attributed this drawdown to a 23% drop in the average estimated price of mined bitcoin, to the level of $73,707. As a result, MARA's net loss for the first half of the year reached a significant $ 1.87 billion, while a year earlier the company recorded a profit of $ 274.8 million. The main factors of the loss were the revaluation of digital assets, which brought a loss of $ 964.2 million, as well as the depreciation of bitcoins issued on credit and pledged by $ 397.4 million.

To strengthen financial stability and implement infrastructure projects after the end of the second quarter, MARA successfully attracted additional financing in the amount of $ 600 million. The funds were received through two bitcoin-backed credit lines from Coinbase and Two Prime partners. The company provided 18,750 bitcoins as initial collateral. Part of the raised capital is planned to be used to finance the acquisition of the Long Ridge energy complex, which will allow the company to diversify its energy sources and reduce its dependence on external power grids. This strategy reflects the general trend in the industry, when large miners strive for energy independence, however, high interest rates and the volatility of the bitcoin exchange rate pose serious risks to their balance sheets.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.