MARA Holdings

MARA Holdings is one of the largest bitcoin miners on the public markets, and owning it is close to owning leveraged bitcoin. The company runs vast fleets of specialized computers that race to solve the cryptographic puzzles securing the bitcoin network, earning newly minted coins as a reward, and it holds much of what it mines on its balance sheet rather than selling it. That means its value rides on two things: the price of bitcoin and the cost of the electricity its machines devour. Once a sleepy patent-holding company, it pivoted to crypto mining last decade, rebranded from Marathon Digital to MARA in 2024, and is based in Hallandale Beach, Florida. The economics are brutal and cyclical, squeezed further every four years when the network halves mining rewards. For investors it is a high-beta proxy for bitcoin, amplified by the operational risks of running an energy-hungry industrial operation.

On MyRWA, MARA trades tokenized across 10 on-chain venues - see the listings below.