1、
According to TheEnergyMag, listed Bitcoin miners and AI data center peers spent $30.7 billion in capital expenditures in the first half of 2026, surpassing the $21.53 billion recorded for all of 2025, an increase of 42.6%. Twelve listed miners accounted for $6.87 billion, already exceeding their combined $6.5 billion for all of 2025. AI-native cloud companies CoreWeave, at $14.12 billion, and Nebius, at $8.13 billion, contributed nearly three-quarters of the total spending by the 15 companies surveyed. Among miners, TeraWulf, at $1.61 billion, Applied Digital, at $1.58 billion, Core Scientific, at $1.18 billion, and Cipher, at $911.5 million, ranked among the largest spenders. Although HPC and AI revenue at nine major miners rose 52% quarter-over-quarter to $205.8 million in Q2, bringing the first-half total to $341.2 million, capital expenditures during the same period were nearly 15 times the revenue generated by these businesses.
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2、
According to TheEnergyMag, as listed Bitcoin miners accelerate the reallocation of power and infrastructure toward AI and HPC, the realized hashrate of the miners it tracks fell 13.4% over six months, from 368.3 EH/s in Q4 2025 to 319 EH/s in Q2 2026. Over the same period, Bitcoin’s network-wide quarterly average hashrate declined 10.6%. Excluding Bitdeer, which continued to expand against the trend, the realized hashrate of the remaining miners in the sample fell 21.2%. TheEnergyMag attributed the contraction mainly to weakening mining economics and growing competition between AI and Bitcoin mining for capital and power resources.
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3、
According to CoinDesk, citing Hashrate Index data, Bitcoin mining difficulty fell 0.74% in its latest adjustment to 126.23 T, down about 14% from its January 2026 peak and about 19.1% from its all-time high. It also fell below its level a year earlier, marking only the second year-over-year decline in Bitcoin mining difficulty on record. The report attributed the pressure on hashrate growth mainly to weaker BTC prices, declining mining revenue, and miners redirecting capital and power resources toward AI and high-performance computing. The hashrate forward market expects only a modest improvement in revenue per unit of hashrate by year-end.
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4、
Glassnode data shows that Bitcoin transaction fees currently account for just 0.69% of miner revenue, remaining close to the 10-year low of 0.52% recorded in April. The share has stayed below 1% for nearly a year, leaving miners increasingly dependent on the block subsidy of 3.125 BTC per block. Checkonchain data shows that Bitcoin’s network-wide hashrate has fallen about 33%, from a peak of 1.3 ZH/s in October 2025 to 861 EH/s. As of Tuesday, the estimated average cost of producing one BTC was $78,254, about 23% above the spot price at the time. (Cointelegraph)
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5、
According to Digital Asset, Bitcoin miner holdings fell to approximately 1.1919 million BTC as of August 15, down 885 BTC from a week earlier and reaching their lowest level since May 31. A decline in miner holdings typically indicates that some miners are using their BTC for purposes such as selling, lending, or collateral. During the same period, Blockchain com data showed that Bitcoin’s seven-day moving average network hashrate stood at approximately 895 million TH/s, down about 25.48 million TH/s from a week earlier. The Puell Multiple remained unchanged at 0.75, a range that historically indicates neither clear overheating nor extreme undervaluation.
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6、
According to WuBlockchain Data Center, as of August 6, approximately 22.7% of the 22 mainstream BTC mining machine models surveyed were generating negative daily net returns. The most energy-efficient model had an estimated shutdown price of about $46,787, meaning that if BTC falls below this level, even the most efficient machine would approach the shutdown threshold under the current electricity cost and other assumptions. At an electricity price of $0.05/kWh, Bitcoin’s baseline shutdown price was approximately $31,992 as of August 14, while BTC traded at about $63,492, or 1.98 times that level. However, shutdown prices varied significantly across models. The S19 Pro+ Hyd. had a shutdown price of approximately $66,487, already above the current BTC price, while the S19 XP Hyd., S19 XP+ Hyd., and S21 Hyd. had estimated shutdown prices of $50,292, $45,937, and $38,683, respectively. After accounting for mining machine depreciation, the break-even price for some older models exceeded $80,000.
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7、
According to Bloomberg, Anthropic and Bitcoin miner Riot Platforms have signed a long-term cloud computing agreement worth approximately $9.1 billion to secure computing capacity for Claude. Riot will provide Anthropic with 191 MW of data center capacity from its Rockdale campus in Texas under a contract lasting up to 20 years. The agreement also marks Riot’s further shift from Bitcoin mining toward the AI data center business.
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8、
According to Reuters, two Bitcoin mining sites built by Tether in Uruguay have ceased operations after the projects stalled mainly due to a dispute with state-owned utility UTE over the amount of electricity to be supplied. A former Tether contractor estimated that the company invested a combined $120 million in the two sites, but Tether did not respond to the estimate. Documents reviewed by Reuters showed that the parties disagreed over whether the power allocation in the supply contracts represented a guaranteed minimum or a maximum limit, leaving the mining sites without sufficient electricity at one point. Tether’s local entity, Microfin, stopped paying part of its electricity bills in 2025 and requested to terminate the contracts in June. UTE subsequently cut power to the sites on July 25, 2025. Tether had previously viewed Uruguay as the first step in expanding its Bitcoin mining operations across South America, but as mining profitability comes under pressure and energy costs rise, miners are increasingly shifting toward AI and high-performance computing businesses.
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9、
Bitdeer reported its July 2026 operating results, producing 1,190 BTC during the month, up 322% year-over-year. As of the end of July, the company held 257 BTC. In its AI business, Bitdeer had deployed 4,248 GPUs with a utilization rate of 95%, generating approximately $76 million in annualized recurring revenue. Its 9.5 MW A102 facility in Malaysia was fully covered by a long-term offtake agreement expected to generate more than $800 million in total contracted revenue. Bitdeer had also previously announced a 16-year AI/HPC data center lease agreement for its Tydal site in Norway, with approximately $4.7 billion in contracted revenue.
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Bitdeer (NASDAQ: BTDR) reported total revenue of $228.8 million for the second quarter of 2026, a net loss of $92.3 million, and adjusted EBITDA of $31.1 million. Q2 self-mining revenue reached $168.4 million, while AI Cloud revenue totaled $14 million. The company mined 2,694 BTC during the quarter and held 150 BTC as of June 30.
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11、
According to TheEnergyMag, Bitdeer will deploy approximately 28 MW of Bitcoin mining equipment at Soluna’s Project Kati 1 in South Texas, adding an estimated 1.93 EH/s of hashrate. The equipment will be deployed in phases beginning in September 2026. Bitdeer will provide and retain ownership of the Sealminer A2 Pro Air mining machines, while Soluna will handle the site, power supply, and operations. The two companies will share the resulting mining revenue under a revenue-sharing model. Project Kati 1 is an 83 MW data center powered by the Las Majadas wind project.
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Soluna Holdings reported total revenue of $15.06 million for the second quarter of 2026, compared with $6.16 million a year earlier. Data hosting revenue increased to $12.65 million, while cryptocurrency mining revenue declined to $1.72 million. The quarterly net loss attributable to the company was $20.71 million, bringing its first-half net loss to $38.18 million. As of June 30, the company had total assets of $294 million and total liabilities of $81.82 million. Soluna also amended its credit agreement with Generate Lending, receiving waivers for certain reporting and operational compliance requirements while agreeing to make early repayments of approximately $5.69 million and $13.43 million on two loans, respectively.
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CleanSpark reported revenue of $138 million for the third quarter of fiscal 2026, down 30.5% year-over-year. The company recorded a net loss of $239.8 million, compared with net income of $257.4 million a year earlier, while adjusted EBITDA was negative $113 million, compared with positive $377.7 million in the same period last year. As of June 30, CleanSpark held $202.6 million in cash and $814.9 million worth of Bitcoin, with $1.78 billion in net long-term debt and $761 million in working capital. The company signed a 20-year, $6.6 billion triple-net lease with an investment-grade tenant for its Sandersville project. All equity funding expected to be required for the project has been secured, and all long-lead-time equipment needed to meet the planned commissioning schedule has been ordered and prepaid. CleanSpark currently controls more than 1.8 GW of power, land, and data center resources across the United States.
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14、
CleanSpark reported producing 586 BTC in July and selling 229 BTC on the spot market, along with 350 BTC through exercised call options. As of July 31, the company held a total of 13,931 BTC. Its operational hashrate reached 50 EH/s, with an average hashrate of 38.6 EH/s, 230,507 mining machines deployed, and 1.8 GW of contracted power capacity. In addition, CleanSpark signed a 20-year triple-net lease with a highly rated investment-grade global technology company for its Sandersville campus in Georgia, with an estimated contract value of $6.6 billion over the initial term.
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Bitcoin miner turned AI infrastructure provider IREN has delivered the first Horizon AI cloud project to Microsoft, marking one of four deployment phases under the companies’ five-year, $9.7 billion contract. Horizon 1 is a 50 MW facility at IREN’s Childress campus in Texas and uses Nvidia GB300 GPUs. The four phases will total 200 MW, with the remaining deployments expected to be completed by year-end. IREN aims to expand its AI cloud capacity to 1.2 GW in 2027.
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IREN reported revenue of $137.2 million for the fourth quarter of fiscal 2026, broadly in line with expectations. Adjusted EBITDA was $19.2 million, approximately 53% below estimates. AI cloud services revenue rose sequentially from $33.6 million to $70.5 million, while Bitcoin mining revenue declined from $111.2 million to $66.7 million. The company currently has approximately $1 billion in operating ARR. Its 2026 capacity is largely sold out, representing about $4 billion in contracted ARR, and it has signed a new multi-year agreement with a frontier AI lab. Recent three-year contracts have generated more than $20 million in revenue per IT MW, while some ongoing negotiations are priced at approximately $25 million. IREN plans to increase cumulative IT capacity from approximately 0.3 GW in 2026 to about 0.8 GW in 2027. Its existing cash, committed GPU financing, and customer prepayments total approximately $14 billion.
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According to The Energy Mag, Bitcoin miner MARA closed two loans with Coinbase Credit and Two Prime Lending on August 4, pledging 18,750 BTC as collateral, worth approximately $1.2 billion at the time, to secure about $600 million in new funding. The two loans have a combined principal of $750 million. Coinbase’s $450 million loan includes the refinancing of an existing $150 million credit facility, resulting in $300 million in incremental funding, while Two Prime provided a separate $300 million loan. The Coinbase loan currently carries an interest rate of approximately 7.5%, while the Two Prime loan has a fixed rate of 7.65%. Both loans mature in 2028. MARA said the proceeds will be used for general corporate purposes, including energy asset acquisitions and the expansion of Bitcoin mining, AI, and high-performance computing infrastructure.
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18、
TeraWulf reported total revenue of $44.767 million for the second quarter of 2026, including $12.835 million in digital asset revenue, down approximately 73% year-over-year, and $31.932 million in HPC lease revenue, which accounted for about 71% of total revenue. The company recorded a net loss of $940.8 million for the quarter, mainly due to a $755.67 million loss from changes in the fair value of warrants. As of June 30, TeraWulf held $133,000 in digital assets. Its Lake Mariner campus had 102 MW of revenue-generating critical IT capacity online, while part of its former Bitcoin mining infrastructure was being repurposed for HPC development.
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According to TheEnergyMag, Nasdaq-listed Ionic Digital reported second-quarter revenue of $48.6 million, up 31% year-over-year. Digital infrastructure leasing revenue, including revenue from AI data centers, reached $43.8 million and accounted for approximately 90% of total revenue, while Bitcoin mining revenue fell from $37.2 million a year earlier to $4.8 million. The company is currently converting its Ward County mining site in Texas into an AI infrastructure campus and has signed a long-term lease with Nscale worth approximately $1.95 billion in contracted revenue. Ionic Digital was originally formed from Bitcoin mining assets involved in Celsius’ bankruptcy restructuring.
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20、
Cipher Digital reported that it held approximately $37.802 million worth of BTC as of June 30, 2026. The company generated $25 million in second-quarter revenue and recorded adjusted EBITDA of negative $30 million. It delivered the initial capacity at its Black Pearl data center two months ahead of schedule and began collecting rent. Cipher also secured a development option for the Apollo data center site near San Antonio, Texas, with potential capacity of up to 900 MW. In addition, the company completed a bond offering that fully funded the construction of its Stingray data center project.
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21、
According to TheEnergyMag, tax disputes in Sweden over input VAT deductions for cryptocurrency mining are prompting some miners to reallocate their local computing assets. HIVE’s latest financial report showed that the company recorded an $84.7 million non-cash provision related to the Swedish VAT dispute. HIVE said tax enforcement and regulatory uncertainty had reduced the economic viability of its traditional hashrate business in the country, leading it to gradually scale back ASIC mining and convert its Boden facility toward AI and HPC. Northern Data’s Swedish subsidiary is also facing VAT disputes involving hundreds of millions of Swedish kronor, although the relevant tax decisions remain under dispute or appeal.
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22、
Bitcoin miner and energy infrastructure company Hut 8 reported second-quarter 2026 revenue of $74.93 million in a Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC), compared with $41.30 million a year earlier. Revenue from its Compute segment increased to $72.50 million, mainly as Bitcoin production rose from 308 BTC to 935 BTC. The company recorded a quarterly net loss of $177 million, compared with net income of $137 million a year earlier, primarily due to a $138.6 million fair value loss on digital assets. As of June 30, Hut 8 held 17,316 BTC on a consolidated basis, valued at approximately $1.04 billion based on the period-end price. Of this amount, Hut 8 held approximately 9,314 BTC, while its controlled subsidiary American Bitcoin held about 8,002 BTC. An additional 3,090 BTC had been pledged to mining machine manufacturer Bitmain.
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23、
According to TheEnergyMag, Cango (NYSE: CANG) reported unaudited results for the second quarter of 2026, with revenue of $50.8 million, down approximately 50% quarter-over-quarter. Net loss from continuing operations narrowed to $81.6 million from $261.1 million in the first quarter, mainly reflecting a $42.9 million impairment charge on mining machines and an $8.5 million loss on equipment disposals. Its adjusted EBITDA loss narrowed to $10.7 million. At quarter-end, the company had an operational hashrate of 27.58 EH/s, including 19.84 EH/s for self-mining and 7.74 EH/s of leased hashrate. Cango produced 656 BTC during the quarter, while its average cash cost per BTC declined to $73,313. The company held 1,056 BTC as of the end of June. In AI infrastructure, its 3 MW site in Georgia completed its conversion in early July and is expected to provide bare-metal GPU hosting and colocation services, with initial revenue expected to be recognized in the third quarter. The company has also deployed test nodes in Texas and on the U.S. West Coast.
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24、
BitFuFu reported revenue of $42.8 million for the second quarter of 2026, down 62.9% year-over-year. The company recorded a net loss of $20.5 million, compared with net income of $47.1 million a year earlier, while adjusted EBITDA was negative $18.4 million. Due to weaker cloud-mining demand, a year-over-year decline in the Bitcoin price, and hashrate optimization, total managed hashrate fell to 15.3 EH/s, although self-mining production increased to 192 BTC. As of the end of June, BitFuFu held 1,671 BTC, with cash and digital assets totaling approximately $119.5 million. The company said its total managed hashrate had recovered to approximately 20 EH/s by mid-August.
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25、
According to The Wall Street Journal, Bitcoin miner and cloud-mining service provider BitFuFu produced 112 BTC in July, including 72 BTC from self-mining and 40 BTC from cloud mining. The company held 1,314 BTC at month-end, down from 1,671 BTC at the end of June. BitFuFu said the decline was mainly due to using part of its BTC holdings as a prepayment to secure future hashrate scheduled to come online in August for a 330-day term. As of the end of July, the company managed a total hashrate of 14.2 EH/s, including 3.6 EH/s of owned hashrate, up 2.9% month-over-month. Its total managed power capacity stood at 255 MW. BitFuFu expects its total managed hashrate to recover to approximately 20 EH/s by mid-August as the additional capacity secured in June and July gradually comes online.
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26、
According to a filing with the U.S. Securities and Exchange Commission (SEC), Bitcoin mining infrastructure and hosting service provider Bitari Inc. has filed an S-1 registration statement to offer approximately 4.286 million shares at $7 per share, seeking to raise about $30 million. The company has applied to list on the Nasdaq Global Market under the ticker BIAI, subject to approval. Net proceeds are expected to total approximately $26.95 million after expenses, with about 40% allocated to strategic acquisitions and investments and 15% to the development of new mining sites and infrastructure.
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27、
According to an analysis by TheEnergyMag, Zcash mining has further widened its lead over Bitcoin mining and AI/HPC in revenue generated per unit of electricity, as ZEC rose approximately 70% over the past week and briefly reached about $890. Based on its August 24 estimates, an Antminer Z15 Pro mining ZEC could generate approximately $727 in gross revenue per MWh of electricity, about 3.3 times the industry average for AI/HPC and 4.5 times the revenue generated by an Antminer S23 Pro Bitcoin miner. Compared with the end of June, the Z15 Pro’s revenue per unit of electricity had increased by approximately 95%, while that of the S23 Pro rose by only about 22%.
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28、
According to The Block, Nasdaq-listed Zcash treasury company Cypherpunk Technologies (CYPH) announced the launch of its ZEC mining operations. Its subsidiary, Cypherpunk Mining, has deployed approximately 4.2 GSol/s of Equihash hashrate in the United States, representing about 18% of the Zcash network’s total hashrate. The company said the fleet is currently the largest active mining operation on the Zcash network. The mining equipment was funded through a $33.33 million equity transaction between Cypherpunk and Winklevoss Capital. The company also appointed mining industry veteran Kevin Zhang as Head of Mining. Cypherpunk currently holds 323,394 ZEC, representing approximately 1.92% of the circulating supply, and plans to pursue its goal of holding 5% of ZEC’s total supply through mining and further accumulation.
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29、
DCG-owned Zcash miner Fortitude reported second-quarter 2026 revenue of $20.9 million, adjusted EBITDA of $8.5 million, and a net loss of $9.5 million, including a $10.3 million impairment charge on mining equipment. During the quarter, the company mined approximately 33,646 ZEC with an average operational hashrate of 4.0 GSol/s. Fortitude controls more than 60 MW of power capacity across seven sites. The company is pursuing a public listing through a proposed business combination with Nasdaq-listed medical technology company HeartSciences (HSCS), with the transaction expected to close in the second half of 2026.
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Bitcoin mining pool OCEAN and co-founder Luke Dashjr issued a joint statement announcing that they had mutually agreed to part ways. Dashjr resigned as chairman, CTO, and a director, while OCEAN repurchased his entire equity stake. The parties said the separation stemmed from differing visions for the future of Bitcoin mining following recent protocol changes. Dashjr will launch a new project called CONVOY to continue advancing Bitcoin mining decentralization, while OCEAN will continue operating its non-custodial mining pool business.
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31、
According to Bitcoin News, Bitcoin developers have finalized the specification for BIP-54, known as “Consensus Cleanup.” The proposal seeks to address four consensus edge-case risks through a soft fork: time-warp attacks, malicious blocks with high validation costs, a Merkle proof vulnerability involving 64-byte transactions, and duplicate coinbase transactions. It does not introduce any new functionality.
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F2Pool co-founder Chun Wang said he does not support BIP-54, but would update the pool’s mining nodes if the proposal is activated strictly through the BIP-9 mechanism and reaches the required absolute supermajority threshold for miner signaling. Until then, F2Pool will not signal support for the proposal. BIP-54, also known as “Consensus Cleanup,” is a proposed Bitcoin soft fork designed to address long-standing consensus-layer issues, including time-warp attacks, excessively long block validation times in extreme cases, Merkle tree weaknesses, and duplicate transaction validation. BIP-9 is a mechanism that tracks miner signaling through block version bits to coordinate the lock-in and activation of soft forks.
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Strategy founder Michael Saylor said that at block height 960,561, BIP-110 had received signals from only 24 of 946 blocks, or 2.54%, with all signals coming from DATUM miners sharing rewards through OCEAN and none originating outside OCEAN. He said the 55% voluntary activation threshold had become mathematically impossible to reach during the current signaling period and that the results did not represent miner consensus. Saylor further noted that OCEAN had made BIP-110 signaling the default setting for its existing endpoints, while the BIP-110 guide directs node operators to use Bitcoin Knots and miners to use DATUM. He argued that the initiative more closely resembles a vertically integrated marketing campaign for Knots and OCEAN/DATUM.
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According to Bitcoin News, BIP-110 supporter Roughnecks announced that it would stop mining under the organization’s name and advised miners currently using the existing proof-of-work algorithm to mine the BIP-110 chain to suspend their participation. Roughnecks had previously mined the only two blocks produced on the BIP-110 forked chain so far. The group said its decision to stop mining was not an admission of defeat, but preparation for the “next phase.”
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35、
Strategy founder Michael Saylor said in a post on X that BIP-110 had failed to gain broad miner support, receiving signals from only 2.6% of miners. At block height 961,632, nodes supporting BIP-110 will begin rejecting blocks that do not carry the relevant signal. Saylor said BIP-110 would then either stall or fork into irrelevance, while the Bitcoin network would continue operating normally.
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36、
According to CryptoSlate, SBI Crypto, the mining subsidiary of Japanese financial group SBI Holdings, discontinued its mining pool service and shut down the Stratum servers used to connect miners on July 31. Its seven-day average hashrate fell approximately 64% in one month, from 16.222 EH/s on June 30 to 5.817 EH/s on July 30. On July 31, Foundry USA, AntPool, and F2Pool briefly accounted for about 60% of recently mined Bitcoin blocks combined. However, their combined share had already exceeded 60% before SBI Crypto’s shutdown, and available data cannot confirm where SBI’s lost hashrate was redirected.
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37、
A creditors’ committee for Bitcoin mining pool Poolin was formed on August 12 and has retained legal counsel to participate in and oversee the bankruptcy proceedings on behalf of all creditors. The case involves the sale and liquidation of bankruptcy assets. Creditors do not need to retain their own attorneys and may submit proofs of claim through Verita Global’s official case page. According to the page, three debtors, including Poolin Technology PTE. LTD., filed for Chapter 11 bankruptcy protection on July 22, 2026. The cases are being jointly administered by the U.S. Bankruptcy Court for the District of New Jersey.
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According to Bits media, Amanbay Orynbayev, chairman of the parliament of the Republic of Karakalpakstan in Uzbekistan, said three cryptocurrency mining centers and three data centers are under construction in the region, with total investment of $5.11 billion. In April, the entire territory of Karakalpakstan was designated as a special mining zone called Besqala Mining Valley. Under Uzbekistan’s regulations, cryptocurrency mining may only be conducted by legal entities and must primarily use renewable energy. Miners using electricity from the national grid are required to pay double the standard tariff. The country’s National Agency for Perspective Projects is responsible for issuing mining licenses.
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39、
According to Bits media, Kazakhstan’s Ministry of Artificial Intelligence and Digital Development said licensed mining companies and mining pools in the country produced approximately 7,200 BTC from the beginning of 2023 through May 2026. Annual production peaked at about 3,400 BTC in 2024, followed by 2,300 BTC in 2025 and 519.5 BTC during the first five months of 2026. Kazakhstan currently has 78 licensed mining companies and more than 465,000 registered mining machines. Mining-related tax revenue totaled approximately 35 billion tenge, or about $75 million, from 2023 to 2025.
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40、
According to Bits media, the Russian government will ban cryptocurrency mining in Moscow, the Moscow Region, and parts of the Kursk Region from August 15, 2026, through December 31, 2032. The restrictions cover eight municipal districts in the Kursk Region and the city of Lgov, and also prohibit local residents from participating in mining pools and related activities. The government decree was signed by Russian Prime Minister Mikhail Mishustin.
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41、
According to Livecoins, Brazilian police discovered a Bitcoin mining operation allegedly powered by stolen electricity at a scrap recycling facility, seizing 15 ASIC mining machines and three servers valued at more than $39,400. Following an inspection, local utility Cemig determined that the site was using an illegal electricity connection, causing estimated losses of approximately $11,800 per month. A 37-year-old employee was arrested at the scene on suspicion of theft and receiving stolen property after failing to explain the origin of the equipment or provide proof of purchase. Police are investigating where the mined cryptocurrency was transferred, the source of the equipment, and whether a criminal organization was behind the operation.
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42、
According to an article by lawyer Shao Shiwei, Liao and others smuggled mining machines, including Antminer L9 and IceRiver KS3 units, into China through false declarations, dismantling, concealment, and other methods in a virtual currency mining machine smuggling case in Ningbo in July 2026. The goods involved were valued at more than RMB 17 million, and the core members received prison sentences ranging from three to seven years for smuggling goods and articles prohibited by the state from import or export. The article said the case may be China’s first publicly reported mining machine smuggling case prosecuted under this offense. Previous judicial practice generally treated such conduct as smuggling ordinary goods and articles, indicating that the appropriate legal classification remains disputed.
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43、
MARA reported revenue of $175 million for the second quarter of 2026, down 27% year-over-year. The company recorded a net loss of $611 million and adjusted EBITDA of negative $361 million. Quarter-end hashrate increased 22% year-over-year to 70.3 EH/s, while Bitcoin production rose 3% to 2,422 BTC and daily cost per unit of hashrate declined 4% to $27.70. Bitcoin holdings fell 29% year-over-year to 35,577 BTC, while cash and Bitcoin had a combined value of approximately $2.5 billion. MARA currently has 1.4 GW of operational capacity and 1.9 GW of total existing capacity. Through the proposed acquisition of Long Ridge and development of its Matagorda project in Texas, the company plans to expand its potential total capacity to approximately 4.8 GW. However, the completion of the transaction, regulatory approvals, grid interconnection, and construction schedules remain subject to uncertainty.
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