MARA and CleanSpark Stocks Slide as Bitcoin Losses Sink Quarterly Results

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MARA Holdings (MARA) and CleanSpark, Inc. (CLSK) shares fell in after-hours trading after the two Bitcoin (BTC) miners released their latest quarterly results. Both companies recorded a drop in revenue and wider net losses for the period, tied to their Bitcoin holdings. Bitcoin Price Slide Hammers Miner Treasuries According to Google Finance data, MARA closed at $13.39 on May 11, up 3.48% on the day, before dropping 3.44% in after-hours trading. CLSK posted an even steeper after-hours decline of 9.09%, after closing the regular session at $14.3, up 0.7%. Follow us on X to get the latest news as it happens MARA reported a net loss of $1.3 billion, or $3.31 per diluted share, compared with a $533.4 million loss a year earlier. The quarterly results were impacted by a $1 billion loss tied to changes in the fair value of its digital asset holdings. In addition, MARA noted that revenue fell 18% year over year to $174.6 million. The miner produced 2,247 Bitcoin at an average cost of $76,288 and sold 20,880 BTC at an average price of $70,137, ending the quarter with 35,303 BTC, worth about $2.4 billion. “We advanced the Starwood strategic partnership from announcement to execution, closed our acquisition of a majority interest in Exaion, retired approximately 30% of our outstanding convertible debt, realigned the organization, and, after quarter end, announced a definitive agreement to acquire Long Ridge Energy & Power (“Long Ridge”) from FTAI Infrastructure Inc,” the shareholder letter read. Meanwhile, CleanSpark recorded a net loss of $378.3 million for its fiscal second quarter ended March 31, 2026. This marked a 173% increase from $138.8 million a year earlier. The company said $224.1 million of the quarterly loss stemmed from declines in the fair value of its Bitcoin holdings, which were valued at $925.2 million at the end of the quarter. The company’s revenue fell 24.9% year over year to $136.4 million, down from $181.7 million in the same quarter last year. Despite weaker financial results, CleanSpark increased its Bitcoin holdings by 14% and boosted its average monthly hashrate by 18% year over year. The results extend a broader pattern across the sector. Hut 8 (HUT), Core Scientific (CORZ), American Bitcoin (ABTC), Cipher Digital (CIFR), and Riot Platforms (RIOT) all reported quarterly losses earlier this month. Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

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