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MARA Holdings (MARA) Bitcoin Treasury Dashboard

Track MARA BTC holdings, mNAV, volume, volatility, price, and treasury analytics.

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MARA Holdings (MARA)
🇺🇸
#2
BitcoinQuant
BTC Price
Current price of Bitcoin
$68,144
MARA BTC Holdings
Bitcoins held on balance sheet
₿53,250
MARA mNAV (EV)
Enterprise Value ÷ BTC NAV; premium (>1) or discount (<1)
1.60x
MARA Stock Price
Latest stock price (in USD)
$7.92
MARA % from 52W High
Current price gap from 52-week high
-66%
MARA Enterprise Value
MCap + Debt + Pref - Cash
$5.8B
MARA Market Cap
Equity market value
$3.0B
MARA BTC NAV
Current value of BTC = holdings × BTC price
$3.6B
MARA MCAP as % of BTC
Market capitalization as a percentage of Bitcoin holdings value
83%
MARA BTC Supply %
Company BTC holdings as % of total 21M Bitcoin supply
0.254%
MARA mNAV (MCap)
Market Cap ÷ BTC NAV; premium (>1) or discount (<1)
0.83x
MARA 1W Return
Feb 6, 2026 ($8.24) → Feb 16, 2026 ($7.92)
-3.88%
MARA 1M Return
Jan 12, 2026 ($10.65) → Feb 16, 2026 ($7.92)
-25.63%
MARA 3M Return
Nov 12, 2025 ($14.41) → Feb 16, 2026 ($7.92)
-45.04%
MARA YTD Return
Dec 31, 2025 ($8.98) → Feb 16, 2026 ($7.92)
-11.80%
MARA 1Y Return
Feb 13, 2025 ($16.91) → Feb 16, 2026 ($7.92)
-53.16%
MARA 1Y vs BTC
Stock 1Y return minus BTC 1Y return (percentage points)
-23.73 p.p.
MARA 52W High
Highest price in the last 52 weeks (in USD)
$23.45
MARA Basic Shares
Estimated basic shares outstanding
378,184,353
MARA Shares per BTC held
How many shares you need to get exposure to 1 full Bitcoin through the stock
—
MARA Trading Volume ($)
Most recent day's trading volume (VWAP × Volume)
$402.72M
MARA Avg 30D Volume
Average daily trading volume over the last 30 calendar days (VWAP × Volume)
$440.31M
MARA Debt
Total outstanding debt (Latest reported Yahoo Finance value)
$3.6B
MARA Debt/BTC NAV
Debt as a % of BTC NAV
—
MARA BTC Rating
BTC NAV ÷ Total Debt
—
MARA Cash
Total cash and cash equivalents
$826.39M
MARA Hist Volatility (30D)
Annualized standard deviation of the daily natural log return measured over the last 30 trading days
114.4%
MARA Hist Volatility (1Y)
Annualized standard deviation of the daily natural log return measured over the last calendar year
84.5%
MARA Implied Volatility
Open interest-weighted implied volatility from options market across all expirations
—
MARA Open Interest
Outstanding open interest contracts × 100 shares × live share price
—
MARA Put Open Interest
Outstanding put open interest contracts × 100 shares × live share price
—
MARA Call Open Interest
Outstanding call open interest contracts × 100 shares × live share price
—
MARA Put to Call
Ratio of put open interest to call open interest (put OI ÷ call OI). < 1.0 = more calls (bullish), > 1.0 = more puts (bearish)
—
MARA Duration (Days)
Open Interest-weighted average of days to expiration for options on this asset. Higher values indicate longer-term options activity.
—
MARA Short Interest (% Float)
% of tradable shares sold short
—
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About MARA Holdings's Bitcoin Treasury Strategy

MARA Holdings (MARA) ranks #2 globally among Bitcoin treasury companies, with 53,250 Bitcoin in its corporate treasury worth approximately $3.63B at current prices. This represents 0.254% of the total 21 million Bitcoin that will ever exist.

Trading at a stock price of $7.92 per share with a market capitalization of $3.00B, MARA Holdings's stock currently trades at an mNAV (enterprise value to Bitcoin NAV multiple) of 1.60x. Bitcoin holdings represent 121% of the company's market cap, underscoring Bitcoin's central role in MARA Holdings's balance sheet strategy.

Recent stock performance shows -3.88% over the past week, -25.63% over the past month, -11.80% year-to-date, and -53.16% over the past year. MARA Holdings currently trades -66.23% from its 52-week high. The stock averages $440.31M in daily trading volume over the past 30 days, with 30-day volatility at 114.4%.

MARA Holdings's Bitcoin treasury strategy is led by Fred Thiel (CEO), and Salman Khan (CFO).

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Bitcoin Preferred Equity

Preferred Equity Dashboard (STRC, STRD, STRF, STRK, SATA)

MARA Holdings (MARA) Bitcoin Treasury Detailed Analysis

Bitcoin Exposure & Holdings

MARA Holdings (MARA) currently holds 53,250 Bitcoin in its corporate treasury. This represents 0.254% of the total 21 million Bitcoin that will ever exist.

At a current Bitcoin price of $68,179.00, MARA Holdings's Bitcoin holdings are worth approximately $3.63 billion, which represents the company's Bitcoin NAV (Net Asset Value).

MARA Holdings's total cost basis for its Bitcoin holdings is $0.00, putting the company at a N/A unrealized loss on its Bitcoin position.

MARA Holdings held 44,608 Bitcoin on January 1st, 2024. Since then, MARA Holdings has been acquiring an average of 20.98 BTC per day, representing +19.37% growth in Bitcoin holdings since then.

Valuation Metrics & Market Capitalization

MARA Holdings (MARA) stock price currently trades at $7.92 per share.

With a market capitalization of $3.00 billion, MARA Holdings ranks as a leading Bitcoin treasury company by equity market value.

On an Enterprise Value basis, MARA Holdings's mNAV is 1.60x, meaning the market values the company's total capital structure at 1.60x times its underlying Bitcoin holdings.

On a Market Cap basis, MARA Holdings's mNAV is 0.82x relative to Bitcoin NAV.

Bitcoin holdings represent 121.2% of MARA Holdings's total market capitalization, underscoring Bitcoin's central role in the company's balance sheet strategy.

MARA Holdings's Enterprise Value is $5.81 billion, calculated as Market Cap plus Debt plus Preferred Stock minus Cash.

Financial Health & Balance Sheet

MARA Holdings has total outstanding debt of $3.64 billion, representing a debt-to-Bitcoin NAV ratio of 1.00x.

The BTC Rating for MARA Holdings is 1.00x (Bitcoin NAV ÷ Total Debt), indicating 1.00x coverage of total debt by Bitcoin holdings.

In cash and cash equivalents, MARA Holdings holds $826.39 million.

MARA Holdings reported total revenue of $919.17 million and operating cash flow of $-891,406,016.00.

Trading Volume & Risk Metrics

In the most recent trading session, MARA recorded $402.72 million in dollar volume.

Over the past 30 days, MARA has averaged $440.31 million in daily trading volume.

MARA Holdings's 30-day historical volatility is 114.4%.

Over the past calendar year, MARA's historical volatility is 84.5%.

MARA Holdings's beta is 5.53x.

Short interest for MARA represents 38.9% of tradable shares.

MARA Holdings's 90-day correlation with IBIT (iShares Bitcoin Trust ETF) is 86.9%, measuring how closely the stock tracks spot Bitcoin exposure.

MARA currently trades -66.23% from its 52-week high.

Options Market & Trading Activity

Implied volatility from the options market for MARA is 103.4%.

Total open interest for MARA options is $1.68 billion. Put open interest totals $783.14 million and call open interest totals $897.16 million.

The put-to-call ratio for MARA Holdings is 0.87x.

Weighted by open interest, the average duration for MARA options is 173.2 days to expiration.

Bitcoin Strategy Leadership

MARA Holdings's Bitcoin treasury strategy is led by Fred Thiel (CEO), and Salman Khan (CFO).

MARA Holdings Bitcoin Treasury Data & Analysis on BitcoinQuant

The interactive MARA Holdings Bitcoin treasury chart above provides a comprehensive visualization of the company's Bitcoin treasury performance over time, allowing investors to track BTC holdings, acquisition rates, and valuation metrics.

All of the data on this page — including MARA Holdings's Bitcoin NAV, mNAV, BTC Rating, cost basis, and options activity — is calculated in real time and updated continuously on BitcoinQuant. By analyzing these treasury metrics alongside historical acquisition data and market performance, investors can gain insights into MARA Holdings's Bitcoin accumulation strategy and compare it against other Bitcoin treasury companies tracked across the BitcoinQuant platform.

BitcoinQuant tracks the full universe of public companies holding Bitcoin, providing real-time analytics on holdings, valuations, financial health, trading activity, and risk metrics across every Bitcoin treasury stock in the market.

Data as of: 02/17/2026, 7:37 AM ET

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