MARA Sells $1.5B in Bitcoin, Posts $1.26B Q1 Loss Amid AI Pivot

MARA sold 20,880 Bitcoin for $1.5 billion in Q1 2026 and reported a $1.26 billion net loss as it shifts toward AI and high-performance computing infrastructure. MARA said $1 billion of the proceeds retired 30% of its convertible debt, cutting leverage from about $3.3 billion to $2.3 billion. MARA also entered a definitive agreement to acquire Long Ridge Energy for nearly $1.5 billion, including assumption of at least $785 million of debt.

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