MARA Holdings CEO Fred Thiel Keeps Unchanged Employment Agreement Amid Company Growth
Fred Thiel has been the chief executive of MARA Holdings since April 26, 2021. He signed an employment agreement on that day, which still stands as the only one filed for him by the company.
The contract set a base salary of $500,000 and provided for automatic one-year renewals after an initial three-year term. The compensation package did not cap bonuses or equity grants, leaving these to the discretion of the board.
Despite significant changes in the company's business description and scale over the years, Thiel's contract has remained unchanged. MARA's revenue climbed from $159.2 million to $907.1 million between 2021 and 2025, with Thiel's total compensation for 2025 reaching $27,053,236.
In an effort to rebrand the company as an 'energy and digital infrastructure' firm, MARA changed its name from Marathon Digital Holdings to MARA Holdings in August 2024. The company now holds 53,822 bitcoin and operates on four continents with a total of 490,000 mining rigs.