PHXvsMARA
Phoenix Group PLC 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.
PHX
Phoenix Group PLC
🇦🇪 AE
641 BTC
$41.0M market value
MARA
Marathon Digital
🇺🇸 US
35,303 BTC
$2.3B market value
Metric
PHX
MARA
BTC holdings
641 BTC
35,303 BTC
Market value of BTC
$41.0M
$2.3B
Average cost per BTC
$65,230.69
$68,236.16
Total cost basis
$41.8M
$2.4B
mNAV (market cap ÷ BTC value)
—
2.05×
Sats per share
1.7k
9.3k
Last disclosed purchase
Dec 31, 2025
- Dec 31, 2025+-300 BTC$26.5M
- Sep 30, 2025+-100 BTC$11.4M
- May 11, 2026+-3,386 BTC$278.1M
- May 11, 2026+0 BTC$1.5B
- Mar 26, 2026+0 BTC$1.1B
PHX vs MARA: frequently asked
Which company holds more Bitcoin, PHX or MARA?▾
Marathon Digital (MARA) holds 35,303 BTC, compared to Phoenix Group PLC's (PHX) 641 BTC — roughly 55.1× more.
What's the total Bitcoin value on the balance sheets of PHX and MARA?▾
PHX holds $41.0M worth of Bitcoin at current market prices. MARA holds $2.3B.
Who has a lower cost basis per BTC, PHX or MARA?▾
PHX's average cost is $65,230.69 per BTC. MARA's is $68,236.16. PHX is the lower cost basis.
When did PHX last buy Bitcoin?▾
PHX disclosed a -300 BTC purchase on December 31, 2025.
When did MARA last buy Bitcoin?▾
MARA disclosed a -3,386 BTC purchase on May 11, 2026.