BroadChain has learned that on April 3, Bitcoin mining firm MARA announced a workforce reduction of roughly 15%, impacting full-time employees across several departments as well as a number of contractors.
In an internal memo, MARA CEO Fred Thiel described the layoffs as a strategic move, part of the company's shift in focus and corresponding team restructuring. Affected employees will receive one month of paid leave along with 13 weeks of severance pay.
MARA has been expanding into AI and high-performance computing (HPC). In February 2026, the company completed the acquisition of a majority stake in Exaion, the data center subsidiary of French national energy company EDF. It also entered an agreement with data center developer Starwood to repurpose about 1 gigawatt of its Bitcoin mining infrastructure for AI workloads.
The company recently sold over 15,000 BTC—worth approximately $1.1 billion—to repay its $1 billion in convertible notes.
For 2025, MARA reported a net loss of $1.3 billion and an adjusted EBITDA of negative $330.8 million.