MARA Holdings bitcoin holdings
The largest listed bitcoin miner by holdings, which spent years keeping everything it mined and then reversed course in 2026.
Key figures
- Bitcoin held
- 35,577 BTC
- As of
- 2026-06-30
- Rank
- 4 of 165
- Value at current price
- $2.2B
- Share of 21 million
- 0.17%
Holdings over time
Cumulative bitcoin held after each disclosed event. The line steps rather than slopes because treasury positions change on purchase dates, not continuously.
We do not yet have enough dated market cap points for MARA Holdings to chart its valuation history. Rather than interpolate, we leave it out until the figures are filled in.
Every disclosure we have
| Date | Event | Change | Total held | Note | Source |
|---|---|---|---|---|---|
| 2026-06-30 | Reported | +274 | 35,577 | H1 2026 sales totalled 23,093 BTC for about $1.63 billion at an average $70,631. Holdings split 26,307 unrestricted, 4,742 loaned and 4,528 pledged as collateral. | sec.gov |
| 2026-03-31 | Sold | -18,519 | 35,303 | HODL policy abandoned. MARA sold about 20,880 BTC during Q1 2026 for roughly $1.5 billion, mainly to repurchase about $1 billion of convertible debt. | sec.gov |
| 2025-12-31 | Reported | +972 | 53,822 | Peak holdings. Mined 8,799 BTC in 2025. About 28% of the stack was deployed, with 9,377 BTC loaned and 5,938 BTC pledged against $350 million of credit facilities. | sec.gov |
| 2025-09-30 | Reported | +2,910 | 52,850 | Q3 2025. Produced 736 BTC in September and won 218 blocks. Digital asset management activity resulted in a small net sale during the month. | ir.mara.com |
| 2025-06-30 | Reported | +2,409 | 49,940 | Mid year 2025. No BTC sold in June. Total includes 15,534 BTC loaned, pledged as collateral or held in a separately managed account. | ir.mara.com |
| 2025-03-31 | Reported | +2,638 | 47,531 | Q1 2025. Holdings passed 47,000 BTC during March, with 242 blocks mined, the third highest monthly block count on record at the time. | ir.mara.com |
| 2024-12-31 | Bought | +18,051 | 44,893 | Year end 2024. During 2024 MARA bought 22,065 BTC at an average $87,205 and mined 9,457 more. Holdings worth about $4.2 billion. 7,377 BTC was loaned out. | ir.mara.com |
| 2024-09-30 | Bought | +8,306 | 26,842 | Full HODL shift. Q3 buys included $100 million of BTC from cash plus 4,144 BTC funded by a $300 million convertible note. No BTC sold in September. | ir.mara.com |
| 2024-06-30 | Reported | +3,362 | 18,536 | First half of 2024 after the April halving. Cash plus BTC totalled about $1.4 billion. | ir.mara.com |
| 2023-12-31 | Reported | +2,636 | 15,174 | Year end 2023 unrestricted holdings. Record annual production of 12,852 BTC, with part of monthly output sold to cover operating costs. | ir.mara.com |
| 2023-06-30 | Reported | +306 | 12,538 | Unrestricted holdings at mid 2023, worth about $382 million. The company sold most of what it mined during the first half to fund operations. | ir.mara.com |
| 2022-12-31 | Reported | +2,177 | 12,232 | Year end 2022 total holdings. A large share was still restricted as collateral while the company paid down its revolving credit line, so unrestricted coins were far fewer. | ir.mara.com |
| 2022-06-30 | Reported | +1,922 | 10,055 | All BTC moved onto the balance sheet after unwinding the NYDIG investment fund and transferring about 4,769 BTC into company wallets. | ir.mara.com |
| 2021-12-31 | Reported | +2,349 | 8,133 | Year end 2021. Produced about 3,197 self mined BTC during the year. Holdings worth roughly $375.8 million. | ir.mara.com |
| 2021-06-30 | Reported | +650 | 5,784 | Mined 265.6 BTC in June. Holdings valued at roughly $201.6 million. Company was holding all mined coins since October 2020. | ir.mara.com |
| 2021-03-31 | Bought | 5,134 | First treasury build. MARA bought 4,812.66 BTC in January 2021 for about $150 million, an average of $31,168 per BTC, and added coins mined since it restarted accumulating in late 2020. | ir.mara.com |
About MARA Holdings
MARA, formerly Marathon Digital, is one of the biggest bitcoin miners in the world and for several years ran a full hold policy: it kept the coins it produced and bought more on the open market rather than selling production to cover costs. That made its balance sheet look more like a treasury company than a mining operation.
That policy ended in 2026. The company sold 23,093 bitcoin, roughly 1.6 billion dollars worth, in the first half of the year to pay down debt and fund a pivot into artificial intelligence and data centre infrastructure. Mining economics after the 2024 halving, combined with the bitcoin drawdown, made a leveraged hold position harder to justify.
The remaining stack is also less unencumbered than the headline number suggests. Around 4,742 coins are lent out and a further 4,528 are pledged as collateral, so a meaningful share of the position is already committed elsewhere.
Frequently asked questions
Does MARA still hold all the bitcoin it mines?
No. After years of holding production and buying more, it sold more than 23,000 coins in the first half of 2026 to reduce debt and fund its data centre business. Some of what remains is lent out or pledged as loan collateral.
Compared with its neighbours
Sources
Holdings figures and their dates come from the disclosures linked in the history table above. Read the full methodology.