Marathon Digital (NASDAQ:MARA) Announces Quarterly Earnings Results

Posted by Stanley Muller on Aug 8th, 2026

Marathon Digital (NASDAQ:MARA – Get Free Report) announced its earnings results on Thursday. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77), FiscalAI reports. Marathon Digital had a negative return on equity of 22.55% and a negative net margin of 429.71%.The company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. During the same quarter last year, the business posted $1.84 earnings per share. The business’s quarterly revenue was down 26.7% on a year-over-year basis.

Here are the key takeaways from Marathon Digital’s conference call:

MARA expects its power portfolio to reach approximately 4.8 gigawatts after completing the Long Ridge transaction and securing the Matagorda County, Texas site, which could support up to 2 gigawatts subject to approvals.
The company said Long Ridge is expected to contribute approximately $144 million in annualized EBITDA, with roughly 70% of its power output covered by long-term contracts. MARA also said tenant demand for its AI infrastructure sites has exceeded initial expectations and that it remains confident of signing at least two leases by year-end.
Second-quarter revenue fell to $174.9 million from $238.5 million a year earlier, while MARA reported a $611.3 million net loss, primarily reflecting lower Bitcoin prices and a $343 million unrealized digital-asset mark-to-market loss.
MARA expanded borrowings by $600 million through Bitcoin-backed credit facilities at a weighted average cost of 7.56% and expects to assume about $900 million of Long Ridge debt. The financing is non-dilutive but increased the share of its Bitcoin holdings pledged as collateral to 54%.
Mining efficiency continued to improve: energized hashrate rose 22% year over year to 70.3 exahash per second, while daily operating cost per petahash declined 4% to $27.7. The company expects the expiration of hosted-mining agreements beginning in 2027 to reduce third-party hosting costs over time.

Marathon Digital Stock Down 5.3%

Shares of MARA stock traded down $0.56 during trading on Friday, reaching $10.09. The company’s stock had a trading volume of 56,436,030 shares, compared to its average volume of 47,364,900. Marathon Digital has a one year low of $6.66 and a one year high of $23.45. The business has a fifty day moving average price of $12.81 and a 200-day moving average price of $11.03. The company has a market cap of $3.85 billion, a price-to-earnings ratio of -1.10 and a beta of 5.40. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

Marathon Digital News Summary

Here are the key news stories impacting Marathon Digital this week:

Positive Sentiment: AI and data-center expansion offers a potential catalyst. MARA said it is targeting at least two artificial-intelligence/high-performance-computing leases by year-end and has doubled its power capacity to 4.8 gigawatts. Needham cited stronger tenant demand through MARA’s Starwood partnership, although it withheld a price target pending more detail on the venture’s economics. MARA targets AI/HPC leases
Positive Sentiment: Some analysts still see substantial upside. Rosenblatt reaffirmed a “buy” rating with a $15 price target, while Cantor Fitzgerald maintained an “overweight” rating despite reducing its target to $12. Both targets remain above the current trading level. Analyst rating updates
Neutral Sentiment: Options activity was unusually elevated. Traders purchased approximately 250,000 MARA call options, about 14% above average daily call volume. This may indicate speculative bullish positioning, but it does not necessarily represent sustained investor conviction.
Negative Sentiment: Second-quarter results missed expectations. MARA reported a $611.3 million net loss, revenue of $174.9 million versus roughly $209.4 million expected, and a year-over-year revenue decline of about 27%. Per-share results also came in below consensus, reinforcing concerns about profitability. MARA reports Q2 loss
Negative Sentiment: Bitcoin production and holdings remain pressure points. MARA’s Bitcoin holdings reportedly fell 29% year over year to 35,577 Bitcoin. Investors are concerned that weaker mining economics and large quarterly losses could limit the benefit of higher Bitcoin prices. MARA Bitcoin holdings and Q2 loss
Negative Sentiment: Price-target reductions added to selling pressure. The broader Bitcoin-mining group declined as analysts cut targets and investors prioritized Q2 losses over Bitcoin’s rebound. MARA’s high volatility amplifies the impact of disappointing results and analyst revisions. MARA stock and price-target cuts

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the transaction, the chief executive officer directly owned 4,562,009 shares in the company, valued at $65,008,628.25. This represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $228,000.00. Following the completion of the transaction, the chief financial officer owned 409,066 shares of the company’s stock, valued at $5,829,190.50. The trade was a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,260 shares of company stock valued at $1,452,756 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Marathon Digital

A number of large investors have recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in shares of Marathon Digital in the 3rd quarter valued at about $55,000. Smartleaf Asset Management LLC lifted its holdings in Marathon Digital by 303.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 3,771 shares during the last quarter. Osaic Holdings Inc. boosted its position in Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,340 shares during the period. NewEdge Advisors LLC raised its position in shares of Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 3,032 shares during the period. Finally, Wiregrass Investment Management LLC acquired a new stake in shares of Marathon Digital during the 4th quarter worth about $90,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MARA shares. Piper Sandler dropped their price objective on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Cantor Fitzgerald lowered their target price on Marathon Digital from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley dropped their price target on Marathon Digital from $7.00 to $5.50 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Finally, Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Marathon Digital has a consensus rating of “Moderate Buy” and an average price target of $18.72.

Read Our Latest Research Report on MARA

About Marathon Digital

(Get Free Report)

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

Earnings History for Marathon Digital (NASDAQ:MARA)

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