NEW YORK, Jan 5, 2026, 07:39 ET — Premarket
- MARA shares were up 5.1% in premarket trading, after closing Friday at $9.91.
- On-chain tracker Lookonchain reported MARA moved 288 bitcoin to crypto market maker Wintermute.
- Traders are watching U.S. data this week and MSCI’s Jan. 15 update on digital-asset treasury index rules.
Shares of MARA Holdings Inc (MARA) were up 5.1% at $10.42 in premarket trading on Monday, after a report that the bitcoin miner moved coins to crypto market maker Wintermute. (Google Finance)
The move matters because MARA’s stock often acts like a leveraged bet on bitcoin, with investors quick to react to signals about liquidity and coin sales. In plain terms, miners can swing more than the token because their revenue and balance sheets are tightly tied to the bitcoin price.
Bitcoin was up about 1.9% at roughly $92,852, setting the tone for crypto-linked equities into the open. “Soon, we’ll come crashing back into the reality of macroeconomics, because there is a slew of U.S. data through the course of this week,” Jeremy Stretch, head of G10 FX strategy at CIBC Markets, said.
Peers moved with the group: Riot Platforms rose about 4.0% in premarket trading and CleanSpark gained about 5.2%, according to Google Finance.
Lookonchain said MARA transferred 288 bitcoin to Wintermute, valuing the transaction at about $26.3 million. Wintermute is a market maker — a trading firm that provides liquidity by quoting buy and sell prices — and such transfers are often read as a precursor to selling or hedging, though blockchain data does not confirm that a sale occurred. (Lookonchain post)
MARA’s coin inventory is a key part of the story. Data compiled by BitcoinTreasuries.net shows the company holds 53,250 bitcoin, the second-largest stash among public companies after Strategy. (Bitcointreasuries)
Technically, the stock is trying to reclaim $10. MARA closed Friday at $9.91 after trading between $9.03 and $9.99, and its 52-week range runs from $8.95 to $23.45, Google Finance data showed.
But the same factors that lift miners can turn quickly. A pullback in bitcoin — or evidence that the Wintermute transfer leads to sustained selling — can hit mining shares harder than the token, especially when broader markets reprice interest-rate expectations.
Investors also face a busy U.S. calendar: ISM manufacturing data is due at 10 a.m. ET on Monday, while the government’s monthly employment report is scheduled for Friday, Jan. 9, at 8:30 a.m. ET. Those releases can move the dollar and risk appetite, which often spills into crypto and related stocks. (BLS schedule)
