Transferred 200 BTC ($13.84M) to a wallet that appears to be used for selling BTC on April 7, 2026, the first such transfer in 2 months.

Transferred out 250 BTC ($17.37M) on April 6, 2026.

Board member Vicki Mealer-Burke is up for re-election in June 2026, with shareholder opposition recommended by some investors.

Reported net loss of approximately $1.3 billion in 2025.

Laid off 15% of workforce on April 1st, 2026, pivoting toward AI and energy infrastructure, partnering with Starwood and Exaion. Shifted management KPIs from hash rate to ARR.

Dropped to fourth-largest corporate Bitcoin holder, overtaken by Metaplanet's accumulation of over 5,000 BTC this week, as of April 2nd, 2026.

Shares ended the week down 5.5%.

CEO Fred Thiel is scheduled to make an opening day announcement at The Bitcoin Conference.

Nir Rikovitch serves as Chief Technology & Product Officer.

Sold 15,133 BTC from corporate treasury holdings for $1.1 billion (avg $65,300) between March 4-25, 2026, to pay off $1 billion in convertible note debt, realizing a $236 million loss against an $80,900 cost basis.

Expanded mining operations in Nebraska with a second mining site rated for 42 megawatts, with 35 megawatts currently online.

Modified policy to allow the sale of over 100,000 BTC from holdings and has begun selling recently.

Transferred 298 BTC ($20.57M) to Cumberland on 2026-03-09.

Reports a cost of $70,027 to mine one Bitcoin based on latest filings.

Clarifies that it may hold Bitcoin for long-term investment purposes and may also buy or sell Bitcoin from time to time, subject to market conditions and capital allocation priorities.

Mining costs reached $87,000 per Bitcoin coin.

Recorded a $422.2M fair value decline on bitcoin holdings in 2025 amid lower market prices.

Revised Bitcoin treasury policy in March 2026 via SEC Form 10-K filing, authorizing sale of all 53,822 BTC worth $4 billion to fund AI infrastructure expansion, reversing previous never-sell policy.

Reported $1.7 billion net loss in Q4 2025 after a $1.5 billion markdown in bitcoin holdings, compared to $528 million net income in Q4 2024.

Partnered with Starwood Capital and Starwood Digital Ventures to build AI data centers, targeting 1GW capacity and 2.5GW+ capacity.

Transferred over 2,125 BTC in January 2026 while maintaining holdings above 52,000 BTC, representing the second-largest Bitcoin position globally.

Stock price increased 15-18% on February 6, 2026, following a 17% decline the previous day.

Presents the 5th Annual Women of Bitcoin Bash event, with tickets launching on 2026-02-18.

Bitdeer overtakes MARA Holdings on managed hashrate metric.

Became the underlying reference asset for the Bitwise MARA Option Income Strategy ETF (IMRA), which launched on April 1, 2025 and announced its December 2025 monthly distribution rate on December 24, 2025.

Holds 53,822 BTC ($3.74B) as of February 26, 2026, ranking as the second-largest public BTC holder after Strategy, with 9,377 BTC loaned and 5,938 BTC pledged as collateral against $350M in debt.

MARA deposits 275 BTC ($25.31M) to FalconX.

VanEck analyst Matthew Sigel states MARA's net Bitcoin value is only ~$1.6B after subtracting $3.3B convertible debt, well below its $4.7B market cap, contradicting assumptions that MARA trades at a discount to its BTC holdings.

MARA Holdings listed among 38 companies MSCI considers removing from major JPMorgan-endorsed indexes for exceeding 50% digital asset holdings, with decision scheduled for January 15, 2026.

MARA mined 15 blocks in the last 24 hours.

Newly NYSE-listed competitor Cango Group operates at similar hashrate scale as MARA but trades at 10-20x discount on EV/EH basis (~$4M vs ~$127M per EH/s).

JPMorgan trims price targets for MARA and Riot while upgrading competitors Cipher and CleanSpark in bitcoin miner reset.

Deposited 644 BTC to sell and sold additional BTC previously.

MARA Pool mined their first ever empty block.

MARA trades at half (0.5x) its intrinsic value while competitor IREN trades at 5x its intrinsic value.

CEO warns hyperscalers and Bitcoin miners face risks from tenant construction timeline delays and energization date issues, cautioning that large deal announcements may not be as attractive as they initially appear.

J.P. Morgan analysts rate MARA stock as OVERWEIGHT alongside COIN and RIOT, indicating expected outperformance.

MARA described as solvent, contrasting with competitor IREN which faces potential bankruptcy.

2026 energy cost per BTC projects at $40-50k following MPLX ramp and hosted facility roll off, compared to current Q3 cost of $39k per BTC.

Q3 variable mining cost of $39,000 per BTC, described as the lowest in the industry. Auradine hardware deployment features modular hash boards that continue operating when chips fail and allow board-level upgrades instead of full rig replacement, reducing CapEx and OpEx.

MARA power cost at $0.04/kWh compared to competitor IREN at $0.06-$0.07/kWh. Jeff Yass holds long position in MARA.

Balance sheet holds $6.8 billion in liquidity (cash + BTC) against 0% coupon 2032 convertible bonds with no cash interest payments.

Allegations emerge that MARA mines at a loss and misreports hashrate, prompting calls for the company to pursue legal action against accusers for defamation and market manipulation under SEC Rule 10b-5 and Section 9(a)(2).

Secures two major power partnerships: 1.5 GW natural-gas integration with MPLX and HPC network collaboration with EDF's Exaion using nuclear baseload, both with 20-30 year power agreements.

Rosenblatt Securities issues 'Buy' rating for MARA following quarterly earnings.

Jones Research reissues 'Hold' rating as Q3 EBITDA of $51.0M misses $83.7M projection due to operating cost pressures, with G&A and research expenses up 17.5% sequentially to $57.9M despite revenue of $252.4M beating estimates.

JP Morgan maintains 'overweight' rating after Q3 earnings, calling the MPLX announcement a solid win while noting uncertainty on near-term HPC catalysts and milestones.

Launched MARA Cloud, an AI inference platform with an OpenAI-compatible API and three models, contributing to record Q3 revenue of $252M.

MARA transfers 2,348 BTC ($236M) to FalconX, TwoPrime, Galaxy Digital, and Coinbase Prime in the past 12 hours.

Holds 52,850 BTC valued at $3.76B as of March 2026.

Acquired 64% stake in EDF subsidiary Exaion for $168M with NJJ Capital, banning EDF from high-performance computing for 2 years. Expects to finalize by 2026-02-28.

Company holds $800M in pure cash and $6B in BTC for approximately $7B total liquidity against a $6B market cap, operating 60 EH/s of active hashrate.

MPLX describes the partnership LOI as "critically important" for Texas data center opportunity and will receive electricity from MARA for resale to customers, stating the project is "not a 2026 project."

Q3 2025 revenue totals $252.4M (up 92% YoY) with net income of $123.1M ($0.27 per diluted share) and adjusted EBITDA of $395.6M, compared to a net loss of $124.8M ($0.42 per share) in Q3 2024.

Company signs LOI with MPLX ($51B market cap) to secure Delaware Basin natural gas supply for 1.5 GW energy-to-compute buildout in West Texas.

MARA files federal lawsuit to block November 4 local election in Hood County, Texas, alleging county officials illegally added municipal incorporation measure targeting its data center operations.

Expands operations into AI/HPC compute segment, pivoting business focus to AI data operations. Began transitioning mining operations to AI compute capacity as an initial test, while maintaining Bitcoin mining operations. Trades at 1x book value and 9x EBITDA, below competitors IREN (10-25x book, >25x EBITDA) and CIFR (>25x EBITDA with negative net income).

Public accusations emerge claiming a coordinated group conducts short selling and misinformation campaigns against the company to benefit competitors IREN and CIPHER.

CEO Fred Thiel disclosed at KeyBanc forum that the company established a local entity in France and set up a regional headquarters in Saudi Arabia, with operational presence in UAE.

Internal brief establishes new price target range of $199-$258, substantially higher than previous $94-$160 valuation model.

Price target model establishes $94-$160 valuation range for the stock.

$1 billion notional convertible notes outstanding with conversion strike price of $20-25. Dealer hedging activity represents 15-25% of float per $5 stock price move.

Acquires Exaion, an EDF subsidiary, in a deal that bars EDF from using its computing power for AI or Bitcoin mining.

Company pursues FedRAMP and IL5 federal clearances through Exaion for defense sector compute hosting. NEOM partnership targets 1.5 GW net zero AI project at Oxagon industrial zone, with dual-jurisdiction carbon credit revenue via EU ETS Phase 4 and U.S. 45Q/45V tax credit programs.

Exaion partnership backed by EDF establishes European AI and HPC operations serving Deloitte and Nvidia. Auradine investment delivers patent portfolio covering chip temperature control, overclocking systems, and AI inference network security.

Powell states data-center capex is not rate-sensitive, supporting MARA's HPC (High Performance Computing) pivot strategy that provides compute optionality beyond pure Bitcoin mining hash rate operations.

Q3 2025 earnings estimates show Street EPS of $0.02 and revenue of $251.71 million, with MTM-adjusted figures of $9.50-$9.70 ahead of November 4th report.

Earnings announcement scheduled for November 4th. Company participates in US-Saudi roundtable on technology and energy partnerships ahead of FII mainstage October 29-30, with current short interest at 30%.

Kenya partnership projects foreign investment exceeding $80 million. Current treasury holdings stand at 53,000 BTC while trading at 1x NAV.

Bitcoin mining industry competitors including IREN and CIPHER take short positions against the stock.

Marathon Digital enters France through partnership with Exaion and connection to EDF nuclear infrastructure via Mestrallet, positioning as operational infrastructure for France's proposed 420k BTC digital reserve bill.

France partners with MARA through EDF/Exaion facilities for national Bitcoin accumulation program targeting 420,000 BTC over 8 years, mining coins with EU provenance for chain-of-custody and zero sanctions risk. Former ENGIE CEO Mestrallet identified as key figure connecting French government policy sphere, EDF/Exaion industrial power, and cross-border finance.

Exaion acquisition includes nuclear and hydro-powered HPC facilities in France and Canada serving enterprise clients including Deloitte and Nvidia, operating in a market segment trading at 18-25× EV/EBITDA multiples, with Marathon using facilities to test dual-use chips and orchestration software on enterprise workloads.

Exaion acquisition structured as 64% stake with option to increase to 75%, while zero-coupon convertible proceeds fund BTC accumulation and HPC buildouts.

Zero-coupon convertible notes convert at $20.26 with capped call near $24, creating mechanical feedback loop where bondholders hedge by shorting stock near these levels, trapping price around $20. Short hedge unwind could trigger sharp move higher when fundamentals shift or major announcement forces market repricing.

MARA met with the Department of Defense and Department of Energy in Washington before being sent to Riyadh.

FII Institute partnership announced ahead of FII9 Riyadh conference. Infrastructure includes 114 MW wind capacity with 20-year utility agreements and 53k BTC treasury holdings.

Company raised $850M through zero-coupon convertible senior notes due 2032 with no immediate dilution. Partnerships established with Auradine, Upscale AI, and SkyHammer for open AI-fabric standards to challenge NVIDIA's NVLink monopoly.

MARA acquires Exaion, a subsidiary operating nuclear-backed data centers in France and Canada, and pivots strategy to include AI inference capabilities.

Stock advances 5-10% along with broader Bitcoin mining sector recovery, ranking 5th among 10 competitors in combined social mentions and 24-hour price performance.

$1.3 million deployed in $30 call options expiring November 21st, with aggressive positioning ahead of early month earnings.

Company scheduled to visit Riyadh on October 27 following DC summit. Stock declined 6.8% during broader bitcoin mining sector selloff where competitor stocks fell 7-27%.

Whale activity detected in November 21st $27 call options with decent flow volume, with retail traders following the whale's position at similar entry points.

JonesResearch reiterates hold rating on MARA while issuing buy ratings to competitors HUT, WULF, and RIOT.

Company scheduled to be in Washington on April 22nd. (tweet id: 1980270973136830934)

Acquires 64% stake in Exaion and operates 60 exahash hashrate with 1.5GW operational power capacity.

MARA invested $85 million in Auradine for preferred equity and a board seat, gaining exposure to Auradine's AI spinout Upscale AI which develops SkyHammer interconnect technology competing with NVIDIA's NVLink using open standards.

Institutional research on MARA distributed to private bank advisory and institutional clients on October 17, 2025, framing the company around energy, compute, and sovereignty as "The Next Phase of U.S. Digital Infrastructure."

Stock declines -12.13% today alongside double-digit losses across the entire Bitcoin mining sector after recent strength.

Purchases 400 BTC for $46M, bringing total holdings to 53,250 BTC valued at $6B.

Chief Technology Officer Ashu Swami removed from the executive team, with the departure occurring in summer 2025 after joining the company in January 2022 to oversee Bitcoin mining operations.

MARA holds three patents covering immersion cooling, heat reuse, and cryptosecurity technologies for Bitcoin mining operations.

MARA acquires Exaion, gaining access to France's EDF nuclear power infrastructure for Bitcoin mining expansion in Europe.

MARA acquired 400 BTC during Friday's market crash when Bitcoin fell to $101,000.

Buys 400 BTC for $46M after the market crash, adding to its Bitcoin treasury.

Marathon purchases 400 BTC following Bitcoin price crash, confirmed by on-chain data.

MARA and Antpool reliably mine non-standard BRC-20 transfer inscription transactions to sub-dust outputs that should normally be rejected by standard mempool rules.

Acquires 400 BTC worth $46.31M via FalconX in a direct market purchase.

Analyst thesis positions MARA as potential "Designated Strategic Operator" for U.S. Strategic Bitcoin Reserve with Treasury-auditable mining systems, comparable to SPR contracts with major oil companies, arguing federal designation would collapse cost of capital and re-rate the company as quasi-sovereign infrastructure similar to defense contractors becoming government-backed annuities.

Produces 736 Bitcoin in September 2025 and increases total holdings to 52,850 BTC, winning 218 blocks despite rising global hashrate.