MARA Holdings Stock Falls 5% Amid Higher Interest Rates

MARA Holdings stock fell 5% on Tuesday morning trading to $9.25, extending its rough stretch as one of the largest publicly listed Bitcoin miners.

The company's 35,577 Bitcoin treasury remains unchanged on its balance sheet, but a yield move near the top of its 52-week range has hit the valuation multiple directly.

MARA operates 19 data centers across four continents and is vertically integrated with power, land, and compute capabilities. The company holds substantial assets in Texas, including a 2 GW site secured for development, and is targeting a powered land portfolio of up to 4.8 GW.

The iShares Bitcoin Trust ETF (NASDAQ:IBIT) was down 26.65% year to date through Monday's close, while MARA Holdings stock climbed 8.18% over the same period. This decoupling from spot Bitcoin exposure in 2026 reflects investors re-rating miner equities as data center developers rather than coin proxies.