# US's Largest Bitcoin Miner MARA Cuts Reserves by 29% and Reports Losses MARA continues Bitcoin sales to fund its AI infrastructure investments - **Source:** [INCRYPTED](https://brifing.si/source/7cd4625d-3f08-4cc1-983d-4c7d991839ba) - **Published:** 2026-08-07 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/bc2e7a78-3e06-4a1f-9619-0e89aaa5b8b0 ## MARA's financial performance MARA Holdings reported $174.9 million in revenue for Q2 2026, marking a 27% year-over-year decline. The company posted a net loss of $611.3 million, largely due to $342.7 million in unrealized Bitcoin valuation losses. Despite this, MARA still holds $2.5 billion in cash and Bitcoin reserves. ## Decline in Bitcoin reserves MARA's Bitcoin holdings dropped from 49,951 BTC to 35,577 BTC over one year, a 29% decrease. This reduction stems not from reduced mining output but from strategic sales to fund AI investments. In Q2, MARA mined 2,422 BTC but sold 2,213 BTC, liquidating over 91% of its production. ## Shift to AI strategy MARA is transitioning from traditional Bitcoin mining to AI and high-performance computing infrastructure. The company raised $600 million secured by 18,750 BTC, earmarked for acquiring energy company Long Ridge. Their 505 MW power plant in Ohio will be converted into AI data centers. ## Energy infrastructure investments Beyond the Ohio facility, MARA is developing a potential 2 GW project in Texas. CEO Fred Thiel noted AI data centers offer better energy cost efficiency than Bitcoin mining. The company is preparing for energy independence ahead of Bitcoin's next halving on November 12, 2025. ## Mining industry challenges WuBlockchain data shows 22.7% of popular ASIC miners were operating at a loss as of August 6 due to electricity costs and network difficulty. Analysts estimate even the most efficient machines would approach breakeven if Bitcoin falls to approximately $46,800. ## Workforce reduction MARA laid off about 15% of its workforce as part of its business transformation. This move underscores the company's departure from traditional mining operations. The staff cuts align with MARA's strategic focus on AI and energy infrastructure development. ## Market valuations MARA disclosed selling Bitcoin at an average price of $73,078. The company remains prepared to sell more reserves depending on market conditions. Investors are debating how this strategy will impact MARA's long-term valuation as it pivots from its core mining business. ## Signs of industry transformation MARA's moves may signal a broader shift in the Bitcoin mining sector. As traditional mining profitability declines, companies are diversifying into alternative revenue streams and energy infrastructure. MARA's strategy provides a significant case study for business model evolution in the crypto industry. ## Sources covering this story - https://incrypted.com/krupnejshyj-bytkoyn-majner-ssha-mara-sokratyl-rezervy/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._