MARA Holdings, Inc. (MARA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 32.07% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
380M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

MARA currently has 380M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 32.07% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 380.2M shares outstanding

380M 0
Mar 26, 2026

8-K filing: MARA Holdings, Inc. repurchased approximately $367.5 million in aggregate principal amount of its 2030 Notes for approximately $322.9 million and approximately $633.4 million in aggregate principal amount of its 2031 Notes for approximately $589.9 million and sold 15,133 bitcoin for approximately $1.1 billion between March 4 and March 25, 2026. ($1100.0M proceeds)

370M 0
Nov 04, 2025

10-Q filing | 372.1M shares outstanding

370M 0
Aug 11, 2025

8-K filing: Mara France, a subsidiary of MARA Holdings, Inc., entered into an investment agreement with Exaion SAS and others, to acquire ordinary shares of Exaion for approximately €115 million in a primary transaction and approximately €33 million in a secondary transaction, with a potential third transaction of approximately €110 million in 2027, contingent on certain conditions. ($277.54M proceeds)

350M 0
Jul 29, 2025

10-Q filing | 352.9M shares outstanding

350M 0
May 08, 2025

10-Q filing | 344.1M shares outstanding

340M 0
Mar 03, 2025

10-K filing | 311.8M shares outstanding

310M 0
Jan 10, 2025

8-K filing: MARA Holdings, Inc. issued 13 million shares of Series X Preferred Stock to Douglas Mellinger in a private placement for $1,300, with the shares redeemable at the original purchase price and having voting rights related to an authorized stock increase proposal. ($0.0M proceeds)

290M 0
Nov 12, 2024

10-Q filing | 294.9M shares outstanding

290M 0
Aug 01, 2024

10-Q filing | 278.7M shares outstanding

280M 0
May 09, 2024

10-Q filing | 267.9M shares outstanding

270M 0
Feb 28, 2024

10-K filing | 267.6M shares outstanding

270M 0
Nov 08, 2023

10-Q filing | 222.6M shares outstanding

220M 0
Sep 21, 2023

8-K filing: Marathon Digital Holdings, Inc. exchanged $417 million aggregate principal amount of its 1.00% Convertible Senior Notes due 2026 for an aggregate 31.7 million newly issued shares of Marathon common stock, resulting in approximately $101 million in cash savings.

170M 0
Sep 08, 2023

8-K filing: Marathon Digital Holdings, Inc. exchanged approximately $417 million aggregate principal amount of its 1.00% Convertible Senior Notes due 2026 for an aggregate of approximately 26.2 million newly issued shares of Marathon common stock.

170M 0
Aug 08, 2023

10-Q filing | 168.5M shares outstanding

170M 0
Jun 09, 2023

8-K filing: Marathon Digital Holdings, Inc. entered into a securities purchase agreement on June 5, 2023, for the purchase of 15,000 shares of Series A redeemable convertible preferred stock in a private placement with gross proceeds expected to be approximately $14.25 million. ($14.25M proceeds)

160M 0
Jun 06, 2023

8-K filing: Marathon Digital Holdings, Inc. appointed Salman Khan as its new Chief Financial Officer, effective as of June 14, 2023, and granted him 297,247 restricted stock units.

160M 0
May 10, 2023

10-Q filing | 159.2M shares outstanding

160M 0
Mar 16, 2023

10-K filing | 167.2M shares outstanding

170M 0
Nov 14, 2022

10-Q filing | 116.5M shares outstanding

120M 0
Aug 09, 2022

10-Q filing | 109.4M shares outstanding

110M 0
May 06, 2022

10-Q filing | 103.1M shares outstanding

100M 0
Mar 10, 2022

10-K filing | 99.3M shares outstanding

99M 0
Jan 03, 2022

8-K filing: Marathon Digital Holdings, Inc. appointed Ashu Swami as its Chief Technology Officer and entered into an Executive Employment Agreement, granting him 80,000 restricted stock units.

100M 0
Dec 21, 2021

8-K filing: Marathon Digital Holdings, Inc. entered into a Severance and Release Agreement with Merrick Okamoto, its Executive Chairman, where Okamoto is retiring effective December 31, 2021, and in exchange for a standard release, he will receive 83,333 restricted stock units of the Company, which shall vest immediately upon grant.

100M 0
Nov 18, 2021

8-K filing: Marathon Digital Holdings, Inc. issued $650,000,000 principal amount of its 1.00% Convertible Senior Notes due 2026, with an option for the initial purchasers to purchase up to an additional $97,500,000 principal amount of Notes.

100M 0
Nov 15, 2021

10-Q filing | 102.6M shares outstanding

100M 0
Aug 13, 2021

10-Q filing | 99.6M shares outstanding

100M 0
Mar 16, 2021

10-K filing | 8.5M shares outstanding

8.5M 5.3M
Jan 15, 2021

8-K filing: Marathon Patent Group, Inc. entered into a Securities Purchase Agreement to issue and sell 12,500,000 shares of its common stock at $20.00 per share in a registered direct offering, resulting in gross proceeds of $250,000,000 before deducting fees and expenses, with H.C. Wainwright & Co., LLC acting as placement agent. ($250.0M proceeds)

64M 0
Dec 11, 2020

S-3 filing: Marathon Patent Group, Inc. is offering shares of its common stock having an aggregate offering price of up to $200,000,000 from time to time through H.C. Wainwright & Co., LLC acting as its sales agent pursuant to this prospectus supplement and the accompanying prospectus.

64M 0
Nov 12, 2020

10-Q filing | 8.5M shares outstanding

8.5M 5.3M
Aug 14, 2020

10-Q filing | 8.5M shares outstanding

8.5M 5.3M
Aug 06, 2020

S-3 filing: Marathon Patent Group, Inc. is offering shares of its common stock having an aggregate offering price of up to $100,000,000 from time to time through H.C. Wainwright & Co., LLC acting as their sales agent pursuant to this prospectus supplement and the accompanying prospectus.

30M 0
Jul 23, 2020

S-1/A filing: Marathon Patent Group, Inc. is offering 5,293,246 shares of common stock at an assumed offering price of $0.9446 per share, which was our closing price in the Nasdaq Capital Market on July 21, 2020.

8.5M 5.3M
May 14, 2020

10-Q filing | 8.5M shares outstanding

8.5M 0
Mar 24, 2020

10-K filing | 6.4M shares outstanding

6.4M 0
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