MARA Holdings

MARA Holdings, Inc.

Treasury Qualification

Treasury classificationBitcoin Miner with Strategic Holdings

Qualification tierCore Directory

Directory statusIncluded

Ownership statusJune 30 reported total 35,577 comprises 26,307 unrestricted owned BTC and 9,270 BTC receivables: 4,742 loaned BTC claims plus 4,528 collateral-receivable BTC. Only 26,307 enters attributable holdings. Receivable figures remain in these dated notes and the separate headline; btc_loaned and btc_pledged are null rather than repurposed as owned components. The primary-field reduction is principally a methodology correction, not evidence of a sale of the excluded receivables.

Strategic intent

The company retains a material portion of mined and acquired Bitcoin as a strategic corporate reserve while operating a Bitcoin-mining business.

Bitcoin Treasury

Last verified attributable BTC26,307 BTC

Balance dateJune 30, 2026

Estimated value$2,098,851,381BTC price retrieved: October 27, 2026 at 08:21 UTC

Average purchase priceNot disclosed

Included in totals

Verified at the stated balance date

Separately reported BTC — not used in totals

35,577 BTC · Balance date: June 30, 2026

Published August 6, 2026. Broader total includes 4,742 loan receivable BTC and 4,528 collateral receivable BTC. Eligible owned balance is 26,307; headline is not used in totals.

Reported BTC source

Ownership and Restrictions

Component figures are shown only when separately disclosed and may overlap; they are not additive. Components refer to the eligible balance date unless dated otherwise in research notes. “Not separately disclosed” does not imply zero.

Total BTC reported35,577

Unencumbered / unrestricted26,307

Pledged as collateralNot separately disclosed

Loaned to third partiesNot separately disclosed

Subsidiary-owned0

Other restricted owned BTC0

Latest Financial Results

Reporting period: Three months ended June 30, 2026

Revenue$174,881,000

Operating income/loss$-521,070,000

Net income/loss$-611,317,000

Cash$421,274,000

Management

Chief executive officer: Fred Thiel
Chief financial officer: Salman Khan
Executive chair: Fred Thiel (Chairman of the Board)

Research Notes

MARA reported 35,303 BTC as of March 31, 2026. Of that amount, 5,742 BTC were loaned to third parties and 4,253 BTC were pledged as collateral. Financial figures are from MARA's unaudited Form 10-Q for the quarter ended March 31, 2026. Local refresh methodology note — September 29, 2026 (approved Batch 1 and later manifest; not a blanket verification date): June 30 reported total 35,577 comprises 26,307 unrestricted owned BTC and 9,270 BTC receivables: 4,742 loaned BTC claims plus 4,528 collateral-receivable BTC. Only 26,307 enters attributable holdings. Receivable figures remain in these dated notes and the separate headline; btc_loaned and btc_pledged are null rather than repurposed as owned components. The primary-field reduction is principally a methodology correction, not evidence of a sale of the excluded receivables. Financial mapping: Revenue: "Revenues". Net result: "Net income (loss)", consolidated before noncontrolling-interest allocation. Liabilities exclude redeemable noncontrolling interest. Financial source publication/filing date: August 6, 2026. Source: https://ir.mara.com/sec-filings/all-sec-filings/content/0001507605-26-000022/mara-20260630.htm Holdings evidence: https://ir.mara.com/sec-filings/all-sec-filings/content/0001507605-26-000020/q226shareholderletter.htm.