Shares of MARA Holdings (MARA) and CleanSpark, Inc. (CLSK) fell in trading hours after two Bitcoin (BTC) miners released their latest results.
Both companies posted lower revenues and larger losses for the period, tied to their Bitcoin holdings.
Bitcoin Price Slide Hammers Miner Treasuries
According to Google Finance data, MARA it is closed at $13.39 on May 11, up 3.48% on the day, before dropping 3.44% in after-hours trading. Price CLSK has been sent down 9.09% after hours, after closing regular $14.3up to 0.7%.
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MARA reported a net loss of $1.3 billion, or $3.31 per diluted share, compared with a loss of $533.4 million a year earlier. Quarterly results were impacted by a $1 billion loss related to changes in value digital currency.
Additionally, MARA saw revenue drop 18% year-over-year to $174.6 million. The miner produced 2,247 Bitcoin at an average price of $76,288 and sold 20,880 BTC at an average price of $70,137, finish the quarter and 35,303 BTC, about $2.4 billion.
“We progressed our Starwood deal from announcement to merger, closed our acquisition of a majority interest in Exaion, retired approximately 30% of our outstanding debt, restructured the organization, and a quarter later, announced a definitive agreement to acquire Long Ridge Energy & Power (“Long Ridge”) from FTAI Infrastructure Inc. read it.
Meanwhile, CleanSpark recorded revenue of $378.3 million in its second fiscal quarter that ended March 31, 2026. This represents a 173% increase from $138.8 million a year ago.
The company he said $224.1 million of the quarterly loss comes from the decline in the value of its Bitcoin, which was worth $925.2 million at the end of the quarter.
The company’s net income fell 24.9% year over year to $136.4 million, down from $181.7 million in the same quarter last year.
Despite its weak financial results, CleanSpark increased its Bitcoin volume by 14% and increased its average monthly turnover by 18% year-over-year.
The results are huge the entire system part. Hut 8 (HUT), Core Scientific (CORZ), American Bitcoin (ABTC), Cipher Digital (CIFR), and Riot Platforms (RIOT) all posted quarterly losses earlier this month.
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A note MARA and CleanSpark Stocks Slide as Bitcoin Losses Sink Quarterly Results appeared for the first time BeInCrypto.
