Headquartered in Hallandale Beach, FL Fiscal year ends December NASDAQ: MARA mara.com
MARA Holdings, Inc. (NASDAQ: MARA) describes itself as an energy-backed digital infrastructure company. It acquires, develops and operates powered assets, with 1.9 GW of energized capacity across nearly 20 sites on four continents and a stated path to about 4.8 GW.
Bitcoin mining is its operating foundation. In Q3 2026 it had 71.2 EH/s of energized hashrate and mined 2,247 BTC. Mining monetizes power and keeps sites productive while the company develops higher-value uses.
MARA is expanding into AI and high-performance computing infrastructure:
- **Data center leasing:** It plans to lease powered campuses such as Kearney to hyperscalers and other compute customers, using a Starwood joint venture model to reduce corporate equity needs.
- **Exaion:** Its majority-owned subsidiary provides private cloud, inference and GPU-as-a-service, focused on sovereignty-sensitive customers in Europe and Canada.
- **Vertebrai:** A flexible computing platform that absorbs curtailed or surplus power from power producers and data center developers.
- **Power generation:** It owns a wind farm in Hansford County, Texas, is acquiring the Long Ridge natural gas plant (up to 505 MW), and holds development rights to a Matagorda County, Texas site with up to 2 GW.
The company holds a large bitcoin treasury (34,012 BTC at quarter-end). It lends, pledges and sells bitcoin to fund operations, acquisitions and debt reduction. Updated
Nearly 48 points separated the best and worst names in a 383-stock universe at the close, with Digital Turbine's 37% drop setting the floor. Take-Two's 8% gain came a day after its quarterly filing, while Hims & Hers kept sliding on its Q3 miss.
A $500 million buyback authorization filed with the SEC the prior evening is now backing a 13.56% intraday jump.
MARA $500M buyback authorized
Moves: Nov 10, 10:40 AM ET · Alpha Vantage quote
An $885.3 million unrealized mark-to-market gain on bitcoin holdings produced the earnings beat, while revenue fell year over year and missed consensus. The operating story now rides on Long Ridge closing and two data center leases management admits could slip into 2027.
A new $500 million repurchase authorization equals 19.55% of the entire $2.5 billion market cap, a signal management sees its own shares as cheaper than anything else it can buy. The question now is what funds it.
A 10.8% drop to $5.98 from a $6.70 open takes roughly $280 million off this $2.3 billion miner in one session, and it leaves the stock trading below $6 for the first time in this slide. Another leg lower puts the single-digit floor in play.
A near 10% day to $7.16 adds roughly a tenth to a $2.8 billion market cap, the kind of swing that makes this bitcoin miner a leveraged proxy on crypto. Whether it holds the $7 handle into the next session is the thing to watch.
Four of Monday's five biggest gainers were bitcoin miners and data center names, led by Cipher Digital's 17.7% close. Shopify ran the other way with an 8.3% drop, the session's sharpest decline across 381 priority stocks.
A 9% intraday pop to $7.10 adds roughly a quarter of a billion to a $2.7 billion market cap in one session, the kind of swing that makes this miner a leveraged bet. Whether it holds into the close is the tell.
At $6.43, the biggest listed bitcoin miner is now 4.46% under its February low and worth just $2.5 billion. That undercuts every price the stock has traded at in the past year.
Same sector, same three years: $10,000 in Iren is worth $108,872 today, while the same bet on Marathon Digital sits at $11,854. Picking the right bitcoin miner mattered nearly 11x more than picking the trade.
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MARA Holdings, Inc. (NASDAQ: MARA) describes itself as an energy-backed digital infrastructure company. It acquires, develops and operates powered assets, with 1.9 GW of energized capacity across nearly 20 sites on four continents and a stated path to about 4.8 GW.
The Wall Street consensus 12-month price target for MARA is $17.69. MARA price prediction →
