Marathon Digital (MARA) Filing Shows Continued Small Insider Sales

Rhea-AI Filing Summary

Form 144 filed for MARA Holdings, Inc. discloses that Doug Mellinger intends to sell 1,000 common shares through Fidelity Brokerage Services on or about 07/07/2025. The aggregate market value of the proposed sale is $17,420, based on the filing’s reference price of $17.42 per share. The company has 351,927,748 shares outstanding, so the planned sale represents roughly 0.0003 % of the float.

The filing also lists prior dispositions: Mellinger sold 1,000 shares on 06/06/2025 for $16,000 and 3,000 shares on 05/09/2025 for $48,000, totaling 4,000 shares in the past three months. All shares being offered were originally acquired via restricted-stock vesting on 04/19/2021 (163 shares) and 01/31/2025 (837 shares) as compensation.

No additional company performance data, earnings metrics, or strategic disclosures accompany the notice. Given the minimal size of the transaction relative to MARA’s market capitalization, the filing appears routine and unlikely to affect the firm’s financial outlook or share-price dynamics.

Insights

Securities Analyst

TL;DR: Tiny insider sale—0.0003 % of float—has negligible fundamental impact.

The notice details a single insider’s plan to divest 1,000 MARA shares worth $17.4 k. Coupled with 4,000 shares sold earlier in the quarter, total 2025 sales remain immaterial versus a 352 m-share base. No valuation-moving information, guidance changes, or adverse commentary is provided. Routine liquidity management by an employee or affiliate, therefore I classify this as neutral for investors.

Corporate Governance Expert

TL;DR: Filing shows standard Rule 144 compliance; no governance red flags.

Rule 144 filings signal transparency around insider activity. The seller followed disclosure rules and indicated no undisclosed adverse information. Transaction size is far below thresholds that typically trigger governance concern. No 10b5-1 plan date is supplied, but that omission is common. From a governance standpoint, the action appears routine and non-material.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	1000	17420.00	351927748	07/07/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	04/19/2021	Restricted Stock Vesting	Issuer			163	04/19/2021	Compensation
Common	01/31/2025	Restricted Stock Vesting	Issuer			837	01/31/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Doug Mellinger 101 NE Third Avenue Suite 1200 Fort Lauderdale FL 33301	Common	06/06/2025	1000	16000.00
Doug Mellinger 101 NE Third Avenue Suite 1200 Fort Lauderdale FL 33301	Common	05/09/2025	3000	48000.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many MARA shares does the Form 144 propose to sell?

The filing covers 1,000 common shares of MARA Holdings, Inc.

What is the aggregate market value of the planned MARA sale?

The proposed sale is valued at approximately $17,420.

When is the approximate sale date for the shares?

The insider targets an 07/07/2025 execution date.

How many MARA shares has the seller disposed of in the last 3 months?

The seller previously sold 4,000 shares (1,000 on 06/06/2025 and 3,000 on 05/09/2025).

How many MARA shares are outstanding according to the filing?

The notice cites 351,927,748 shares outstanding.

Which broker and exchange are involved in the transaction?

Shares will be sold through Fidelity Brokerage Services LLC on the NASDAQ market.