Thiel Frederick G., Chief Executive Officer of MARA Holdings, Inc. (NASDAQ:MARA), disposed of 27,505 shares of the company’s common stock on March 17, 2026. The shares were sold at $9.18 each, producing gross proceeds of $252,495.
Following the March 17 transaction, Frederick retains direct ownership of 4,788,954 shares of MARA. The sale was carried out under a Rule 10b5-1 trading plan that Frederick adopted on May 28, 2025.
The trade coincides with MARA’s market price near $9.22 and a roughly 50% decline in the stock over the past six months. The current trading level is well below the company’s 52-week high of $23.45.
Separately, Marathon Digital Holdings released fourth-quarter 2025 results that fell short of expectations. The company reported a net loss of $4.52 per share, compared with an anticipated loss of $0.45 per share. Revenue for the quarter totaled $202.3 million, below the forecasted $253.65 million.
Analyst reactions to the quarter included price-target reductions. Cantor Fitzgerald lowered its Marathon Digital target to $11 from $21, citing decreased mining revenue and a negative adjusted EBITDA driven by lower Bitcoin prices. Clear Street also cut its price target to $9.00 from $16.00, maintained a Hold rating, and adjusted its 2027 adjusted EBITDA estimate to $99 million from $571 million. Clear Street stated it is valuing the company via a sum-of-the-parts framework, accounting for both bitcoin mining operations and potential high-performance computing opportunities.
Market response to the broader cryptocurrency environment was mixed on the day in question: shares of Marathon Digital rose 6% as Bitcoin posted a 5.9% increase, a movement that typically benefits cryptocurrency-focused equities.
InvestingPro commentary included a note that MARA’s stock-price movements are highly volatile, a trait reflected in the company’s beta of 5.42. The InvestingPro service also indicates investors can access 11 additional ProTips for deeper analysis of MARA’s financial position.
The sequence of an insider sale under a planned trading arrangement, a sizable year-to-date and six-month share decline, and a material quarterly earnings shortfall accompanied by analyst downgrades together illustrate the present volatility surrounding the company and the cryptocurrency sector.