New York, January 21, 2026, 11:10 ET — Regular session
- MARA shares climbed roughly 6% in mid-morning trading, as crypto-linked stocks found some footing following a turbulent week.
- A filing revealed CEO Frederick Thiel intends to sell 27,505 shares under Rule 144.
- Traders are focused on whether bitcoin can stay above $90,000, while also eyeing MARA’s upcoming earnings report.
MARA Holdings Inc shares jumped 6% to $10.99 on Wednesday, spearheading a wider rally among U.S.-listed bitcoin miners despite bitcoin dropping roughly 0.7% to $89,809. Cipher Mining surged 6.3%, CleanSpark rose 4.4%, and Riot Platforms ticked up about 1%.
This shift is significant since miners have been acting like a high-beta proxy for crypto risk appetite. This week’s volatility has been fueled as much by macro headlines as by blockchain data. On Tuesday, a broad risk-off selloff hit U.S. markets after President Donald Trump issued new tariff threats linked to Greenland, pushing volatility higher across asset classes and weighing on risk-sensitive sectors. (Reuters)
Bitcoin slipped briefly under $90,000 on Tuesday, while crypto-related stocks took a bigger hit than the coin. Wintermute analysts called the move “coiling rather than breaking down,” but flagged the $90,000 mark as crucial—if it doesn’t hold, a drop toward the mid-$80,000s could be next. (Decrypt)
Insider selling is another concern weighing on MARA. A filing from Jan. 20 reveals CEO Frederick G. Thiel, via a trust, submitted a Form 144 to unload up to 27,505 shares, worth roughly $297,054. Form 144 signals an insider’s intention to sell shares under SEC Rule 144, which regulates such transactions. (MARA)
Bitcoin’s recent drop has reignited the question: is it a hedge or just another risky bet when volatility spikes? “Because of the volatility, the macro traders have done better,” said SkyBridge Capital founder Anthony Scaramucci in Davos on Tuesday. At the time, bitcoin was trading below $90,000, roughly 28% off its October 2025 record high. (Reuters)
MARA, among the biggest miners by market cap, feels bitcoin price swings acutely. Its revenue tracks the coin’s value, but key expenses like power and equipment remain mostly fixed short-term. So, when bitcoin plunges sharply, margins tighten fast.
Investors remain alert to tariff and geopolitical news spilling over into rates, the dollar, and other risk gauges shaping cross-asset moves this week. A quieter market usually favors miners—but that can change in an instant.
The downside is clear-cut. Should bitcoin slip below $90,000 and selling picks up pace, miners—particularly those with higher financial leverage or greater funding exposure—could see significant underperformance. Insider selling, even if scheduled, tends to ramp up pressure when sentiment is fragile.
MARA’s next big test comes with earnings. Market calendars point to a late February report, with MarketBeat forecasting a Feb. 25 release after the close. The company, however, hasn’t officially set a date yet. (Marketbeat)
