MARA Holdings Slips as Bitcoin Drop Pressures $1.5B AI Power Gamble

MARA Holdings looked split on Tuesday morning, with shares at $13.39 before the U.S. market opened—up about 3.6%. Bitcoin hovered near $80,726, down a bit. Riot Platforms, CleanSpark, and Core Scientific all showed gains too, though not by the same amount. For MARA, the story is still Bitcoin mining, at least as far as the market’s concerned, despite management’s push for a broader energy-backed data infrastructure label.

MARA Holdings shares dropped roughly 6% to $8.38 Tuesday afternoon, tracking bitcoin’s 2.3% slide to around $69,444. Among competitors, Riot Platforms edged up 1.2%, while CleanSpark slipped 2.2%. That put MARA on the softer end of major U.S.-listed miners.

MARA Holdings, Inc. jumped roughly 5% in late Monday trading, catching a tailwind from bitcoin's move above $70,000 and a renewed appetite for riskier bets after President Donald Trump announced a postponement of strikes on Iranian power plants. Shares traded at $8.91, having hit $9.24 earlier in the session, compared to a prior close near $8.47.