MARA shares drop 10.2%, wiping out $466 million as Bitcoin-backed lending climbs

MIAMI, August 29, 2026, 21:04 EDT – MARA shares slipped 10.2%, erasing $466 million from the company’s value as Bitcoin-backed borrowing showed further growth.

• MARA ended Friday at $10.67, falling 10.15%, with 41.93 million shares traded.
• The drop wiped out roughly $466 million in equity value.
• As of June 30, cash and bitcoin amounted to $2.5 billion, representing 61% of the company’s market value on Friday.
• Additional bitcoin-backed loans total $600 million, with a weighted interest rate of 7.56%.

MARA Holdings, Inc. (NASDAQ: MARA) dropped 10.15% on Friday, with a dip in bitcoin reviving worries over the miner’s exposure to balance-sheet shifts.

The stock fell $1.21 to close at $10.67, with 41.93 million shares changing hands. The drop wiped about $466 million from the market value, based on 386.3 million outstanding shares.

Bitcoin was last quoted around $78,166 late Saturday, gaining 0.6% compared with its previous close. MARA’s Friday decline surpassed the cryptocurrency’s weekend change and corresponded with widespread selling among listed mining firms.

MARA’s Q2 results highlight the stock’s reputation as a leveraged play on bitcoin. The company reported a 27% drop in revenue to $174.9 million. Net loss reached $611.3 million, with a $343 million digital-asset mark-to-market loss a significant factor.