New York, May 24, 2026, 13:04 (EDT)
- MARA ended Friday at $13.81, up 1.92% for the session and roughly 11% higher than last Friday’s close.
- Nasdaq trading is closed Monday because of Memorial Day, so the next regular session is set for Tuesday.
- Bitcoin hovered around $76,590 on Sunday with U.S. stock markets shut, putting the spotlight on MARA’s balance sheet.
MARA Holdings stock finished Friday at $13.81, up 1.92% for the day and about 11% above where it stood on May 15 at $12.44. The bitcoin miner heads into the holiday weekend with those weekly gains in place, and Tuesday’s trading will be the next move for a company now pitching a wider power-and-AI infrastructure plan.
No Monday session means no chance to reset the tape after the weekend. Nasdaq’s normal hours are Monday through Friday, 9:30 a.m. to 4 p.m. Eastern, but its 2026 schedule has Memorial Day, May 25, marked as a market holiday.
Bitcoin kept moving while equities paused for the break. It traded close to $76,590 on Sunday, gaining about 1.6% on its last quoted close. That matters for MARA, as the company mines bitcoin and holds a big digital-asset treasury.
Stocks pushed higher Friday, ahead of the long weekend, with gains across major U.S. indexes. The Dow logged a record close and the S&P 500 notched its eighth weekly rise, Investopedia said in its market wrap.
MARA didn’t have much new information. Its investor-relations site listed a May 15 update about a Long Ridge Energy noteholder consent solicitation and its Q1 results from May 11.
MARA’s first-quarter results show why the stock is still trading as a high-beta name, not a pure AI-infrastructure play. Revenue for the quarter ended March 31 came in at $174.6 million, off 18% from the prior year. The company mined 2,247 bitcoin, nearly flat versus last year’s 2,286, but the average price realized dropped to $76,288 from $93,317.
The company reported selling about 20,880 bitcoin for proceeds of $1.5 billion in the quarter. It finished March with 35,303 bitcoin. Cash and digital assets stood at $2.9 billion as of March 31, including $513.7 million in cash and cash equivalents, not counting restricted cash.
MARA is moving to rebuild its balance sheet around power. In April, it agreed to acquire Long Ridge Energy & Power for roughly $1.5 billion including debt. The deal brings a 505-megawatt gas power plant and land in Hannibal, Ohio. It’s also a play for high-performance computing—HPC—used in AI and other workloads demanding dense data crunching.
MARA’s chairman and CEO Fred Thiel didn’t mince words when the company rolled out the Long Ridge deal. “Power is the scarce input in AI,” he said, calling the deal a “significant step forward” for MARA’s digital-infrastructure plan. MARA
Thiel told Reuters Long Ridge has “all the key components” for an “ideal data center campus.” Thiel also said MARA is seeing interest from hyperscale tenants, referring to big cloud-computing companies that lease out large data-center space. Reuters
Peers moved in different directions in the same break. Riot Platforms stayed close to flat at $24.49. CleanSpark gained, last at $15.97. TeraWulf fell to $22.82 in the latest trade. The bitcoin miner group isn’t trading as a single story now, as investors shift between pure crypto and AI power names.
The bear case is clear. MARA flagged in its 10-Q that the Long Ridge deal still needs to clear conditions and get regulatory signoff. If things fall apart and it doesn’t close by Nov. 30, 2026—moveable to June 30, 2027 for some regulatory hangups—it faces a $75 million break fee. MARA also cautioned there’s no guarantee it can access a Barclays bridge loan or line up other funding on terms it likes.
Bitcoin’s price could be the key driver for MARA in the coming week. If the crypto hangs on to its weekend gains and U.S. risk sentiment stays solid after Memorial Day, MARA’s run may keep going. A bitcoin pullback or slower progress on signing AI tenants could see MARA drop quickly.
