MARA Holdings, Inc. (MARA) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.857 Greetings and welcome to the MARA First Quarter 2026 Earnings Conference Call. 00:00:05.857 -- 00:00:09.281 At this time, all participants are in a listen-only mode. 00:00:09.281 -- 00:00:12.884 A question and answer session will follow a formal presentation. 00:00:12.884 -- 00:00:17.469 If anyone should require operator assistance, please press star zero on your telephone 00:00:17.469 -- 00:00:22.174 keypad. As a reminder, this conference is being recorded. 00:00:22.174 -- 00:00:27.219 It is now my pleasure to introduce Robert Samuels, Vice President of Investor 00:00:27.219 -- 00:00:30.592 Relations. Thank you. You may begin. 00:00:30.592 -- 00:00:35.177 Thank you, operator. Good afternoon, everyone, and welcome to MARA's first quarter fiscal 00:00:35.177 -- 00:00:39.061 year 2026 earnings call. Thanks for joining us today. 00:00:39.061 -- 00:00:43.286 With me on today's call are our chairman and chief executive officer, Fred Thiel, and 00:00:43.286 -- 00:00:47.991 our chief financial officer, Salman Khan. Today's call includes forward-looking statements, 00:00:47.991 -- 00:00:52.296 including those about our growth plans, liquidity, and financial performance. 00:00:52.296 -- 00:00:56.501 These involve risks and uncertainties, and actual results may differ materially. 00:00:56.501 -- 00:01:01.220 We disclaim any obligation to update these statements, except as required by law. 00:01:01.220 -- 00:01:06.665 For more details, see the risk factor section of our latest 10-K and other SEC filings. 00:01:06.665 -- 00:01:11.850 We'll also reference non-GAAP financial measures like adjusted EBITDA, which we believe 00:01:11.850 -- 00:01:16.854 are important indicators of MARS operating performance because they exclude certain items 00:01:...