TechFlow reports that on May 12, Marathon Digital Holdings (MARA) reported $174.6 million in revenue for Q1 2026, down 18% year-on-year; net loss totaled $1.3 billion, up from $533.2 million in the same period last year, primarily driven by changes in the fair value of digital assets. Adjusted EBITDA for the quarter was negative $1 billion. MARA held 35,303 BTC, of which 9,995 BTC were loaned out or pledged as collateral. Operationally, the company’s activated hash rate increased to 72.2 EH/s, up 33% year-on-year, and it mined 2,247 BTC during the quarter. Strategically, MARA stated it has advanced its partnership with Starwood, completed the acquisition of a majority stake in Exaion, and announced the signing of a definitive agreement to acquire Long Ridge.
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