MARA expected to post Q1 losses as investors look ahead to AI growth strategy
MARA Holdings is expected to report first-quarter 2026 earnings after market close on May 11, with analysts forecasting a loss per share of $2.34 on revenue of $184.21 million. The anticipated losses stem from a roughly 25% decline in bitcoin prices during Q1, from $87,000 to $67,000, leading to mark-to-market losses on the company's digital asset holdings. However, investor focus is shifting toward MARA's strategic transition into AI and high-performance computing infrastructure. As part of this pivot, MARA agreed to acquire Long Ridge Energy from FTAI Infrastructure for $1.5 billion, gaining long-term power generation capacity to support AI and data center contracts. In Q1, MARA sold 15,133 BTC worth $1.1 billion to repurchase convertible notes and fund its AI expansion. The broader bitcoin mining sector is following suit: IREN signed a $3.4 billion AI cloud deal with NVIDIA, while HIVE Digital invested $3.1 million in fiber infrastructure for AI factories. MARA shares rose 1% to $13 in pre-market trading.
Key facts
- MARA expected Q1 loss of $2.34 per share on $184.21M revenue.
- Bitcoin price drop 25% in Q1 caused mark-to-market losses.
- MARA to acquire Long Ridge Energy for $1.5B to boost AI infrastructure.
- MARA sold 15,133 BTC in Q1 to repurchase debt and fund AI expansion.
- Shares up 1% to $13 ahead of earnings report.