{
  "url": "https://struct.news/briefs/maras-cash-quadrupled-as-bitcoin-revenue-fell-27",
  "title": "MARA's cash quadrupled as bitcoin revenue fell 27%",
  "summary": "The miner ended June with $421.3 million in cash, even as its three-month revenue dropped to $174.9 million and free cash flow stayed negative.",
  "published_at": "2026-08-06T20:20:35.554817+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "MARA Holdings, Inc.",
    "ticker": "MARA",
    "cik": "1507605",
    "sector": "Financial Services",
    "industry": "Capital Markets"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-06",
    "accession": "0001507605-26-000022",
    "url": "https://www.sec.gov/Archives/edgar/data/1507605/000150760526000022/mara-20260630.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-07-29",
    "url": "https://www.sec.gov/Archives/edgar/data/1507605/000150760525000018/mara-20250630.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 58704000,
      "display": "$58.7M",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001507605-26-000022",
        "filing_date": "2026-08-06"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": -39.18196510712362,
      "display": "-39.2%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001507605-26-000022",
        "filing_date": "2026-08-06"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": -2085.462660125375,
      "display": "-2085.5%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001507605-26-000022",
        "filing_date": "2026-08-06"
      }
    }
  ],
  "watch_next": [
    {
      "type": "input_costs",
      "statement": "Purchased energy costs per bitcoin at MARA's owned mining sites rose to $39,328, while production declined 3% as network difficulty increased.",
      "importance": "medium",
      "evidence": "Purchased energy costs per bitcoin for our owned mining sites increased to $39,328, compared to $34,723 in the prior year period, primarily due to higher network difficulty driven by growth in global hashrate that resulted in a 3% decline in bitcoin production at our owned mining sites compared to the prior year period.",
      "source_date": "2026-08-06"
    }
  ],
  "related_tickers": [
    "MARA"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}