Marathon Digital (MARA) vs Strategy (MSTR)
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
MARA
MSTR
BTC holdings
38,689
815,061
Market value of BTC
$3.0B
$63.6B
Average cost per BTC
$70,069.00
$75,577.00
Total cost basis
$5.9B
$59.0B
mNAV (market cap ÷ BTC value)
1.66×
1.18×
Sats per share
10.2k
250.1k
Last disclosed purchase
3/2/2026
4/19/2026
Country
🇺🇸 US
🇺🇸 US
- 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
- 4/19/2026+34,164$2.5B
- 4/13/2026+13,927$1.0B
- 4/6/2026+4,871$330.0M
- 3/23/2026+1,031$77.0M
- 3/16/2026+22,337$1.6B
MARA vs MSTR: frequently asked
Which company holds more Bitcoin, MARA or MSTR?▾
Strategy (MSTR) holds 815,061 BTC, compared to Marathon Digital's (MARA) 38,689 BTC.
What's the total Bitcoin value on the balance sheets of MARA and MSTR?▾
MARA holds $3.0B worth of Bitcoin at current market prices. MSTR holds $63.6B.
Who has a lower cost basis per Bitcoin, MARA or MSTR?▾
MARA's average cost is $70,069.00 per BTC. MSTR's is $75,577.00. MARA is the lower cost basis.
When did MARA last buy Bitcoin?▾
MARA disclosed a 860 BTC purchase on March 2, 2026.
When did MSTR last buy Bitcoin?▾
MSTR disclosed a 34,164 BTC purchase on April 19, 2026.