Welcome to our dedicated page for MARA Holdings SEC filings (Ticker: MARA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The MARA Holdings, Inc. (NASDAQ: MARA) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. MARA is a Nevada corporation and an SEC-reporting issuer, and its Forms 8-K and other filings document material events, financing transactions, governance matters, and operational updates relevant to shareholders and analysts.
Recent Form 8-K filings include announcements of quarterly financial results, where MARA furnishes shareholder letters discussing revenue, net income, and changes in bitcoin holdings. These filings also attach press releases that describe the timing and format of earnings webcasts and conference calls. Other 8-Ks detail entry into material definitive agreements, such as the investment agreement involving Mara France SAS and Exaion SAS, which outlines MARA’s planned acquisition of a majority stake in Exaion and the related conditions, purchase prices, and closing requirements.
MARA’s filings also cover capital structure developments. Several 8-Ks and exhibits describe the issuance of 0.00% convertible senior notes due 2032, including the purchase agreement, indenture, form of note, and capped call confirmations. These documents explain the notes’ senior unsecured status, conversion features, redemption and repurchase rights, and intended use of proceeds, including repurchase of existing 1.00% convertible senior notes due 2026, payment for capped call transactions, acquisition of additional bitcoin, and general corporate purposes.
Additional filings address shareholder and governance matters, such as the Form 8-K reporting the results of the 2025 annual meeting of stockholders. That filing discloses voting outcomes on director elections, ratification of the independent registered public accounting firm, an advisory vote on executive compensation, and approval of an amendment to the Amended and Restated 2018 Equity Incentive Plan to increase authorized shares.
On Stock Titan, MARA’s SEC filings are updated as new documents are posted to EDGAR. AI-powered summaries highlight the key points of lengthy filings, helping readers understand complex items like convertible note terms, equity incentive plan amendments, and investment agreements. Users can quickly identify filings related to quarterly and annual reporting, material agreements, financing arrangements, and governance decisions, and can use the summaries to navigate to the full text for deeper review.
MARA Holdings reported a sharp swing to loss in Q4 2025 while outlining a major shift toward AI and high-performance computing. Quarterly revenue slipped 6% to $202.3 million, but full-year revenue rose 38% to $907.1 million as bitcoin prices were higher on average.
Net loss reached $1.7 billion in Q4 2025 versus $528.3 million of net income a year earlier, and full-year loss was $1.3 billion versus $541.0 million of income. Results were heavily impacted by a $1.5 billion negative change in the fair value of digital assets, plus much higher depreciation and amortization.
The company ended 2025 with 66.4 EH/s of energized hashrate and 53,822 bitcoin worth about $4.7 billion, along with $547.1 million of cash, giving roughly $5.3 billion in liquid assets. MARA detailed a strategic joint venture with Starwood Digital Ventures targeting more than 1 GW of AI and hyperscale data center capacity, a 64% stake in Exaion to expand AI/HPC capabilities, and acquisitions including a 42 MW Nebraska data center, while beginning to sell bitcoin and pausing its at-the-market equity program in Q4.
MARA Holdings entered a strategic agreement with Starwood Capital Group to jointly develop, lease and market MARA’s U.S. bitcoin mining data center sites into hyperscale, enterprise and AI-capable digital infrastructure. Starwood will handle pre-development work such as due diligence, permits, power and tenant sourcing, initially at MARA’s cost within agreed caps.
When triggers like an executable lease with a qualifying hyperscaler are met, each party can choose to proceed and contribute the site to a new joint venture where MARA will hold a 10%–50% interest and Starwood will manage day-to-day operations. If Starwood proceeds but MARA does not after a qualifying lease is secured, MARA must sell its powered land rights to Starwood.
MARA retains either rent-free bitcoin mining rights and ownership of mining equipment at each site or receives compensation to relocate. A related press release states the platform is expected to deliver approximately 1 gigawatt of near-term IT capacity, with a pathway to more than 2.5 gigawatts, supporting MARA’s push into high-performance computing while leveraging Starwood’s data center development expertise.
MARA Holdings, Inc. updated its long‑term incentive program by approving new standard agreements for restricted stock units (RSUs) and performance-based RSUs (PSUs) under its 2018 Equity Incentive Plan.
RSUs under the new form vest in eleven substantially equal quarterly installments from April 1, 2026 through December 31, 2028, contingent on continued employment. PSUs now depend on 2026 performance in Economic Triad Megawatt Capacity and Annual Recurring Revenues, with a performance multiplier allowing up to 249% of target before further time-based vesting.
All earned PSUs are also subject to a three-year Relative Total Shareholder Return modifier from January 1, 2026 to December 31, 2028, and the aggregate long‑term incentive payout for a cycle is capped at 200% of target. If a Change in Control occurs before PSUs fully vest, performance goals are deemed met at target and unvested PSUs are treated like RSUs, subject to plan terms.
MARA Holdings, Inc. Chief Executive Officer Frederick G. Thiel reported a tax-related share disposition tied to equity compensation. On the reported date, 91,356 shares of common stock at $7.50 per share were withheld to cover his tax liability arising from vesting restricted stock units. According to the disclosure, this was not an open market sale but a payment of tax obligations using shares. After this withholding, Thiel’s directly held ownership stood at 4,816,459 common shares.
MARA Holdings, Inc. General Counsel Nowaid Zabi reported a tax-related share disposition. On the reported date, 31,087 shares of common stock at $7.50 per share were withheld to cover his tax liability from vesting restricted stock units. The filing states this was not an open market sale but a tax-withholding disposition. After this transaction, Zabi’s direct holdings total 1,061,465 shares of MARA common stock.
MARA Holdings, Inc. Chief Financial Officer Salman Hassan Khan reported a tax-related share disposition. On the vesting of restricted stock units, 77,713 shares of common stock were withheld at $7.50 per share to cover his tax liability, and this was not an open market sale. Following this, he directly owned 1,951,284 common shares.
In addition, the filing notes 359,165 common shares held indirectly through the S & N Khan Family Trust, where he and his spouse serve as trustees and members of his immediate family are the sole beneficiaries.
Thiel Frederick G reported acquisition or exercise transactions in this Form 4 filing.
MARA Holdings, Inc. Chief Executive Officer Frederick G. Thiel reported an award of 752,093 shares of common stock in the form of restricted stock units under the company’s Amended and Restated 2018 Equity Incentive Plan. These RSUs vest in eleven substantially equal quarterly installments from April 1, 2026 through December 31, 2028, contingent on his continued service. Following this grant, Thiel directly holds 4,907,815 shares of common stock.
MARA Holdings, Inc. reported that its General Counsel, Zabi Nowaid, acquired 197,919 shares of common stock through a grant of restricted stock units under the company’s Amended and Restated 2018 Equity Incentive Plan. No cash was paid for this award. Following this grant, his directly held common stock position is 1,092,552 shares.
The RSUs vest in eleven substantially equal quarterly installments from April 1, 2026 through December 31, 2028, and each unit represents a contingent right to receive one share of common stock, subject to his continued service with the company through each vesting date.
MARA Holdings, Inc. Chief Financial Officer Salman Hassan Khan reported an equity award of 494,798 shares of common stock in the form of restricted stock units (RSUs). These RSUs vest in eleven substantially equal quarterly installments from April 1, 2026 through December 31, 2028, contingent on his continued service.
Each RSU converts into one share of common stock when vested. Following this grant, Khan directly owns 2,028,997 shares and has an additional 359,165 shares held indirectly through the S & N Khan Family Trust, where he and his spouse serve as trustees.
MARA Holdings, Inc. Chief Financial Officer Salman Hassan Khan reported both an equity award and a pre-planned share sale. On February 18, 2026, he acquired 509,119 shares of Common Stock at $0.00 per share as a grant or award, bringing his direct holdings to 1,534,199 shares. This reflects performance-vested restricted stock units earned under a 2025 award that depended on hashrate hours, total exahash and deployed megawatts for the period from January 1, 2025 to December 31, 2025, and the units remain subject to time-based vesting conditions.
On February 17, 2026, the S & N Khan Family Trust, for which he and his spouse serve as trustees, sold 16,000 Common Stock shares at $7.66 per share in an open-market transaction under a Rule 10b5-1 trading plan adopted on September 11, 2025, leaving 359,165 shares held indirectly by the trust.