MARA Holdings
MARA-🇺🇸 USA
- Price
- $6.30
- as of Nov 6, 2026
- Market cap
- $2.4B
- as of Nov 6, 2026
- Next earnings
- Mon, Nov 9
- Q3 2026
Estimated total debt principal$3.25B
Trailing 12-month dilution+4.3%Jul 22, 2025 → Jul 30, 2026
Cash & equivalents$433.3Mas of Aug 6, 2026
Estimated cost of debt0.20%
Basic shares outstanding - Evolution
Debt stack
Convertible notes
Total: $3.25B · net: $1.27B| Instrument | Principal | Rate | Reference price | Conversion price | Capped call | Prepaid forward repurchase | Maturity | Stage | Source |
|---|---|---|---|---|---|---|---|---|---|
$1.02B | Zero coupon | $20.2585 | Cost $39.8M | Aug 1, 2032 | Closed | Aug 8, 2025 | |||
$925.0M | Zero coupon | $34.58 | Jun 1, 2031 | Closed | Dec 10, 2024 | ||||
$1.00Bnet $979.2M | Zero coupon | $25.91 | Mar 1, 2030 | Closed | Nov 20, 2024 | ||||
$300.0Mnet $291.6M | 2.125% | $18.89 | Sep 1, 2031 | Closed | Aug 14, 2024 |
Equity & warrants
| Instrument | Description | Status | Source |
|---|---|---|---|
| MARA Holdings authorized the sale of up to $2.00B of ordinary shares over time through an at-the-market program, at prevailing market prices. | Ongoing | Mar 28, 2025 | |
2024 ATM (H.C. Wainwright)ATM program | MARA Holdings authorized the sale of up to $1.50B of ordinary shares over time through an at-the-market program, at prevailing market prices. | Supersededas of Mar 28, 2025 | Feb 1, 2024 |
2023 ATM (H.C. Wainwright)ATM program | MARA Holdings authorized the sale of up to $750.0M of ordinary shares over time through an at-the-market program, at prevailing market prices. | Supersededas of Feb 1, 2024 | Oct 24, 2023 |
2022 ATM (H.C. Wainwright)ATM program | MARA Holdings authorized the sale of up to $750.0M of ordinary shares over time through an at-the-market program, at prevailing market prices. | Supersededas of Oct 24, 2023 | Feb 11, 2022 |
| MARA Holdings raised approximately $250.0M. | Closedas of Jan 15, 2021 | Jan 15, 2021 | |
2020 ATM (H.C. Wainwright)ATM program | MARA Holdings authorized the sale of up to $200.0M of ordinary shares over time through an at-the-market program, at prevailing market prices. | Closedas of Jan 12, 2021 | Dec 11, 2020 |
Other instruments
Other
| Instrument | Cost / amount | Maturity | Stage | Source |
|---|---|---|---|---|
| $450.0M | Aug 4, 2028 | Closed | Aug 4, 2026 | |
| $300.0M | Aug 3, 2028 | Closed | Aug 4, 2026 | |
| $1.00B | Other | Mar 25, 2026 | ||
| $417.0M | Other | Sep 20, 2023 | ||
| $100.0M | Closed | Jul 28, 2022 | ||
| $100.0M | Closed | Oct 1, 2021 |