MARA slides as bitcoin drops to multi-month lows, weighing on crypto-linked equities

Marathon Digital Holdings, Inc. (MARA) is down 3.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a broad crypto risk-off move, with bitcoin falling sharply and dragging publicly traded bitcoin miners lower due to their high sensitivity to BTC price and mining-margin expectations. Continued spot bitcoin ETF outflows and forced selling/liquidations in crypto markets likely added pressure to sentiment across the group.

Details:

Bitcoin slid to around the low-$60,000s and hit its lowest level since February, a move that typically pressures bitcoin miner equities in tandem.

U.S.-listed spot bitcoin ETFs extended a streak of net outflows, signaling softer marginal demand during a down tape for crypto assets.

Crypto-linked equities broadly weakened alongside the bitcoin decline, with miners showing outsized downside due to operating leverage to BTC price.

This could also reflect positioning de-risking ahead of upcoming network difficulty changes and near-term volatility, which can compress expected mining profitability.

Sources:

CoinDesk, Investing.com, MARA Investor Relations

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$MARA Insider Trading Activity

$MARA insiders have traded $MARA stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $MARA stock by insiders over the last 6 months:

FREDERICK G THIEL (Chief Executive Officer) has made 0 purchases and 6 sales selling 165,030 shares for an estimated $1,707,785.
SALMAN HASSAN KHAN (Chief Financial Officer) has made 0 purchases and 5 sales selling 98,732 shares for an estimated $1,047,043.
ZABI NOWAID (General Counsel) has made 0 purchases and 2 sales selling 50,340 shares for an estimated $604,080.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$MARA Hedge Fund Activity

We have seen 219 institutional investors add shares of $MARA stock to their portfolio, and 242 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

TWO SIGMA ADVISERS, LP removed 7,393,707 shares (-99.6%) from their portfolio in Q4 2025, for an estimated $66,395,488
D. E. SHAW & CO., INC. removed 4,422,906 shares (-74.6%) from their portfolio in Q4 2025, for an estimated $39,717,695
HRT FINANCIAL LP added 3,679,439 shares (+inf%) to their portfolio in Q1 2026, for an estimated $30,024,222
FARALLON CAPITAL MANAGEMENT LLC removed 3,660,000 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $32,866,800
CAPITAL WORLD INVESTORS removed 2,954,764 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $24,110,874
GOLDMAN SACHS GROUP INC added 2,291,738 shares (+61.3%) to their portfolio in Q1 2026, for an estimated $18,700,582
TWO SIGMA INVESTMENTS, LP removed 2,202,211 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $19,775,854

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$MARA Analyst Ratings

Wall Street analysts have issued reports on $MARA in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Piper Sandler issued a "Overweight" rating on 01/14/2026

To track analyst ratings and price targets for $MARA, check out Quiver Quantitative's $MARA forecast page.

$MARA Price Targets

Multiple analysts have issued price targets for $MARA recently. We have seen 7 analysts offer price targets for $MARA in the last 6 months, with a median target of $15.0.

Here are some recent targets:

Gregory Lewis from BTIG set a target price of $27.0 on 06/01/2026
Stephen Byrd from Morgan Stanley set a target price of $7.0 on 05/19/2026
Chris Brendler from Rosenblatt set a target price of $15.0 on 05/01/2026
Brett Knoblauch from Cantor Fitzgerald set a target price of $10.0 on 04/09/2026
Brian Dobson from Clear Street set a target price of $9.0 on 03/04/2026
Paul Golding from Macquarie set a target price of $26.0 on 03/04/2026
Patrick Moley from Piper Sandler set a target price of $16.0 on 01/14/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.