BLSHvsMARA
Bullish vs Marathon Digital
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
BLSH
MARA
BTC holdings
19,830 BTC
35,303 BTC
Market value of BTC
$1.3B
$2.2B
Average cost per BTC
—
$68,236.16
Total cost basis
—
$2.4B
mNAV (market cap ÷ BTC value)
2.73×
2.06×
Sats per share
13.1k
9.3k
Last disclosed purchase
—
No tracked purchases yet
- May 11, 2026+-3,386 BTC$278.1M
- May 11, 2026+0 BTC$1.5B
- Mar 26, 2026+0 BTC$1.1B
- Mar 26, 2026+-15,133 BTC$1.1B
- Mar 2, 2026+972 BTC$63.9M
BLSH vs MARA: frequently asked
Which company holds more Bitcoin, BLSH or MARA?▾
Marathon Digital (MARA) holds 35,303 BTC, compared to Bullish's (BLSH) 19,830 BTC — roughly 1.8× more.
What's the total Bitcoin value on the balance sheets of BLSH and MARA?▾
BLSH holds $1.3B worth of Bitcoin at current market prices. MARA holds $2.2B.
Who has a lower cost basis per BTC, BLSH or MARA?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did BLSH last buy Bitcoin?▾
BLSH's last BTC purchase isn't in our tracked history yet.
When did MARA last buy Bitcoin?▾
MARA disclosed a -3,386 BTC purchase on May 11, 2026.