FORT LAUDERDALE, FL—Fred Thiel, the Chief Executive Officer of MARA Holdings, Inc. (NASDAQ:MARA), a $6.3 billion market cap company, has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Thiel sold 27,505 shares of common stock on January 16, 2025, at a price of $18.01 per share, totaling approximately $495,365. The stock, which InvestingPro analysis shows has gained nearly 13% in the past week, is currently trading slightly below its Fair Value.
This transaction was conducted under a Rule 10b5-1 trading plan, which Thiel adopted on June 18, 2024. Following this sale, Thiel retains ownership of 4,100,585 shares in the company.
MARA Holdings, previously known as Marathon Digital Holdings, Inc., is a prominent player in the finance services sector, particularly focusing on crypto assets. The company is headquartered in Fort Lauderdale, Florida.
In other recent news, Marathon Digital Holdings, a significant player in the digital asset compute field, has reported an increase in its hash rate and Bitcoin (BTC) holdings. The company's energized hash rate improved by 15%, surpassing its year-end target. However, BTC production saw a slight decrease attributed to a minor reduction in mining luck. By the end of 2024, Marathon Digital Holdings had acquired and mined a significant number of BTC, with total holdings valued at approximately $4.2 billion.
In analyst updates, Piper Sandler initiated coverage on Marathon Digital Holdings with an Overweight rating, citing the company's substantial mining capacity and corporate bitcoin treasury. JPMorgan (NYSE:JPM) also revised its stance on the company, upgrading its rating from Underweight to Neutral, acknowledging Marathon Digital Holdings' significant expansion in self-mining capacity.
In other company news, Marathon Digital Holdings reported a BTC Yield of 60.9% for the period from January 1, 2024, to December 18, 2024, indicating a strategic focus on acquiring and holding Bitcoin. This strategy seems to have resonated with investors, leading to an uptick in the stock price. These are recent developments in the company's progress.
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