Coinbase (COIN) vs Marathon Digital (MARA)
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
Metric
COIN
MARA
BTC holdings
14,548
38,689
Market value of BTC
$1.1B
$3.0B
Average cost per BTC
$35,634.00
$70,069.00
Total cost basis
$518.4M
$5.9B
mNAV (market cap ÷ BTC value)
35.25×
1.66×
Sats per share
6.5k
10.2k
Last disclosed purchase
2/12/2026
3/2/2026
Country
🇺🇸 US
🇺🇸 US
- 2/12/2026+841$75.0M
- 10/30/2025+2,682$300.0M
- 7/30/2025+2,509$222.0M
- 5/9/2025+267$25.4M
- 12/31/2022+1,127$23.7M
- 3/2/2026+860$150.0M
- 11/4/2025+860$20.9M
- 4/3/2025+1,226$103.0M
- 3/10/2025+715$62.5M
- 2/3/2025+766$74.9M
COIN vs MARA: frequently asked
Which company holds more Bitcoin, COIN or MARA?▾
Marathon Digital (MARA) holds 38,689 BTC, compared to Coinbase's (COIN) 14,548 BTC.
What's the total Bitcoin value on the balance sheets of COIN and MARA?▾
COIN holds $1.1B worth of Bitcoin at current market prices. MARA holds $3.0B.
Who has a lower cost basis per Bitcoin, COIN or MARA?▾
COIN's average cost is $35,634.00 per BTC. MARA's is $70,069.00. COIN is the lower cost basis.
When did COIN last buy Bitcoin?▾
COIN disclosed a 841 BTC purchase on February 12, 2026.
When did MARA last buy Bitcoin?▾
MARA disclosed a 860 BTC purchase on March 2, 2026.