MARA, Cipher Mining, TeraWulf drop after Q2 losses outweigh Bitcoin gains
MARA’s $611M Q2 loss and Cipher Mining’s $268M loss drove shares down 7% and 6%, as non-cash fair-value charges inflated the results. Bitcoin holding near $65K wasn’t enough to lift sentiment. TeraWulf slid 4%—its AI/HPC lease revenue mix steadied operations—yet it still reported a large net loss driven mainly by non-cash warrant marks.