MARA Holdings and CleanSpark Report Revenue Declines as Bitcoin Mining Profits Fall

TLDR

• MARA Holdings Q2 2026 revenue fell 27% to $174.9 million year-over-year
• CleanSpark revenue dropped 30.5% to $138 million in its third fiscal quarter
• Both companies are expanding into AI and high-performance computing infrastructure
• Investor enthusiasm for AI deal announcements has cooled, with average stock pops dropping from 24% to around 10%
• The TEM AI Infrastructure Growth Index is down roughly 28.5% from its June peak

Bitcoin miners MARA Holdings and CleanSpark both reported weaker quarterly results as the industry continues shifting toward artificial intelligence and high-performance computing infrastructure.

MARA posted second-quarter 2026 revenue of $174.9 million, down 27% from $238.5 million in the same period last year. CleanSpark reported third fiscal quarter revenue of $138 million, a 30.5% decline from $198.6 million a year prior.

MARA, the Largest Publicly Traded Bitcoin Miner, Reports 29% YoY Decline in Bitcoin Holdings to 35,577 BTC in Q2

MARA, the largest publicly traded Bitcoin miner, reported a 29% year-over-year decline in its Bitcoin holdings to 35,577 BTC in Q2 2026. Revenue fell 27% to $175… pic.twitter.com/NTzZcFdDZS

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