MARA and CleanSpark Post $851 Million in Combined Quarterly Losses

MARA Holdings (MARA) and CleanSpark (CLSK) reported heavy losses on August 6, extending a slump across public Bitcoin (BTC) miners as falling prices triggered large non-cash valuation losses.

Both firms leaned on their pivot toward artificial intelligence and data center infrastructure, joining rivals TeraWulf, Core Scientific, and Cipher in betting that compute capacity can offset shrinking returns from Bitcoin production.

MARA Holdings and CleanSpark Report Quarterly Losses

MARA Holdings posted a second-quarter net loss of $611.3 million, or $1.60 per share. That reversed an $808.2 million profit a year earlier.

Revenue fell 27% to $174.9 million, missing forecasts. The company tied roughly $343 million of the loss to mark-to-market declines on its Bitcoin holdings.

CleanSpark reported fiscal third-quarter revenue of $138 million, down 30.5% year-over-year. Its net loss reached $239.8 million, against a profit last year.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) swung to negative $113 million. A fair-value loss on Bitcoin of over $116 million added to the decline.

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