New York, July 5, 2026, 14:07 EDT
- MARA Holdings, Inc. NASDAQ:MARA ended Thursday at $12.40, off 7.26%. U.S. markets closed Friday for the July 4th holiday.
- As of June 15, short interest was 102.56 million shares, or 27.54% of the float.
- Recent insider Form 4s show the only sales were for tax withholding after RSU vesting, not from open-market activity.
- Bitcoin traded around $62,600 on Sunday. MARA and other mining stocks head into the week following a steep five-day slide in the sector.
U.S. markets were shut Friday for Independence Day, leaving Thursday as the last session for bitcoin miners before trading resumes Monday. MARA Holdings, Inc. NASDAQ:MARA heads into the week with a still-heavy short position and shares off 14.72% over the past five days.
MARA dropped 7.26% to $12.40 Thursday. About 50.63 million shares changed hands, 116% of its 65-day average volume. Shares hit $11.98 during the session, near the low of its $11.98–$14.09 range.
The key figure is short interest. MARA had 102.56 million shares shorted as of June 15, about 27.54% of float. At Thursday’s close, those shorts were worth $1.27 billion, according to Reuters. With a 65-day average of 43.54 million shares traded, that comes to around 2.4 days’ trading volume.
| Company | Last close | One-day move | Five-day move | Short interest as % of float |
|---|---|---|---|---|
| MARA Holdings, Inc. NASDAQ:MARA | $12.40 | fell 7.26% | dropped 14.72% | 27.54% |
| Riot Platforms Inc. NASDAQ:RIOT | $22.11 | lost 7.72% | slid 22.61% | 15.98% |
| CleanSpark Inc. NASDAQ:CLSK | $12.62 | dropped 7.34% | fell 22.72% | 34.41% |
| Cipher Digital Inc. NASDAQ:CIFR | $20.04 | sank 12.26% | down 22.74% | 16.25% |
| IREN Ltd. NASDAQ:IREN | $38.82 | down 10.39% | dropped 17.77% | 22.37% |
MARA’s short load is lower than CleanSpark, but ahead of Riot, Cipher, and IREN, according to MarketWatch/FactSet delayed data. The setup going into Monday isn’t as straightforward as the selloff alone hints. The crowding that’s been a weight when bitcoin skids could also speed up covering if bitcoin firms.
MARA’s newest filings didn’t show insider sales on the open market. According to Form 4s posted July 2, CEO Fred Thiel, CFO Salman Khan and General Counsel Zabi Nowaid had 145,540 shares total withheld at $13.89 each for taxes as restricted stock vested. The filings noted these weren’t open-market transactions.
| MARA data point | Latest confirmed figure | Why it matters |
|---|---|---|
| Thursday close | $12.40, down 7.26% | Last price before the long U.S. market holiday |
| Thursday volume | 50.63 million shares | Turnover topped the 65-day average, so downside brought real volume |
| Short interest | 102.56 million shares | About $1.27 billion at Thursday’s close, Reuters said |
| Short interest / float | 27.54% | Still high, so positioning stays a key trading driver |
| July 2 insider filings | 145,540 shares withheld | Withheld for tax on RSU vesting, not sold on the market |
Bitcoin hovered around $62,622 Sunday. Citigroup Inc. NYSE:C earlier in the week lowered its 12-month price target for bitcoin to $82,000 from $112,000, citing weaker investor demand, negative ETF flows, and a lack of progress on U.S. crypto rules. Citi also dropped its one-year outlook for ether to $2,240 from $3,175.
MARA still trades on bitcoin moves, but it wants investors to see it as a power and data center story now. The company’s Long Ridge deal, first announced in April, values the deal at $1.5 billion with debt. The agreement includes a 505-megawatt gas power plant in Hannibal, Ohio, over 1,600 acres, and a site with more than 1 gigawatt of possible capacity.
“Power is the scarce input in AI,” Thiel said as MARA announced the Long Ridge deal. MARA expects to close the transaction in the second half of 2026. The closing still needs regulatory approvals, including Hart-Scott-Rodino and a sign-off from the Federal Energy Regulatory Commission. MARA
MARA’s balance sheet adds to the stock’s swings. The company had 35,303 bitcoin on March 31, valued at $2.4 billion, its first-quarter filing showed. That includes 5,742 bitcoin out on loan and 4,253 pledged. It also sold about 20,880 bitcoin last quarter for $1.5 billion.
MARA used those sales to cut debt. The company said in March it sold 15,133 bitcoin between March 4 and March 25, pulling in about $1.1 billion to fund convertible note buybacks. CEO Thiel called it a “capital allocation move” aimed at boosting the balance sheet. MARA
For the week, it’s back to Monday’s open: traders are watching if MARA slides under Thursday’s $11.98 low, if bitcoin stays above $62,000, and if any new Long Ridge filing offers shorts or dip buyers a firmer level.
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