New York, June 7, 2026, 15:02 (EDT)
- MARA dropped 11.2% to $12.32 at Friday’s close, caught up in the bitcoin and tech-driven selloff.
- The stock fell roughly 14% this week. U.S. markets are closed for the weekend and reopen Monday.
- Bitcoin hovered near $62,000. Traders also tracked risk moves in Nasdaq and MARA’s Long Ridge power deal.
MARA Holdings shares slid again Friday, down 11.2% to $12.32, as weakness in tech and crypto stocks weighed on the bitcoin miner. The stock lost ground for the week, dropping from $14.38 on May 29 to $12.32 on June 5—a decline of roughly 14.3%.
No regular U.S. stock trading happens on Sunday, so traders have to line up MARA with bitcoin’s weekend action before Nasdaq reopens. Nasdaq runs a regular session Monday to Friday from 9:30 a.m. to 4:00 p.m. Eastern Time.
Bitcoin hovered around $61,996 on Sunday. The token moved in a $60,438 to $62,839 range during the session. Miners like MARA stayed under pressure, with the shares acting as a levered play on bitcoin—often swinging harder than the coin.
Wall Street stumbled Friday, coming under pressure after May jobs came in hot and raised worries the Fed won’t ease up soon. The Nasdaq Composite sank 4.18%. The S&P 500 gave up 2.64%, and the Dow shed 1.35%. “The dam just broke today,” said Ryan Detrick, chief market strategist at Carson Group, to Reuters. Reuters
Riot Platforms slid 10.2% to $24.66. CleanSpark lost 7.0% at $15.59 and Bitdeer was down 11.0% to $17.47. Peers took a hit, making it clear the selling was broader than just MARA.
MARA’s fundamentals are still closely linked to bitcoin, but the company is looking for broader angles. In its Q1 filing, MARA posted revenue of $174.6 million for the quarter ended March 31, compared with $213.9 million a year ago, and booked a net loss of $1.26 billion. MARA said fair value for its bitcoin dropped by about $1.0 billion in the quarter. Fair value represents the asset’s market price.
MARA reported holding 35,303 bitcoin as of March 31, a drop from 53,822 at the end of 2025. The company said 9,995 bitcoin were either loaned out or pledged as collateral, as it continues a digital asset management plan with both lending and borrowing against bitcoin.
MARA has already started changing its balance sheet. The company sold 15,133 bitcoin between March 4 and March 25 for about $1.1 billion. The aim was to help pay for repurchases of convertible notes, which can turn into shares and dilute investors if converted. CEO Fred Thiel said the sale was a “strategic capital allocation move” to shore up the balance sheet. MARA
Next up is power. MARA said in April it will buy Long Ridge Energy & Power for about $1.5 billion, debt included. The deal brings MARA a 505-megawatt gas plant in Ohio and land to build out a data-center campus. High-performance computing, or HPC, handles big workloads like artificial intelligence.
Thiel told Reuters the location has “all the key components” for a data-center campus. Long Ridge’s sale is set to close in the second half of 2026, pending approvals like signoff from the Federal Energy Regulatory Commission. Reuters
The trade isn’t one-way. If bitcoin bounces, MARA might get some relief when trading resumes Monday. More weakness in crypto or another drop in Nasdaq growth stocks could push MARA lower. The Long Ridge project also faces its own hurdles: it needs signoffs, tenants, manageable power bills, and for AI-related income to kick in on schedule.
Looking at the week ahead, the main thing is if MARA stays above Friday’s low at $11.845. Past that, traders are watching where bitcoin lands by Monday, how tech stocks trade after Friday’s slide, and any word on Long Ridge or mining updates. Right now, the market still treats MARA like a high-beta bitcoin miner under pressure, not a stable infrastructure play, as its shift stays expensive.
