BTC-TETHERvsMARA
Tether Holdings LTD 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.
BTC-TETHER
Tether Holdings LTD
🇭🇰 HK
97,141 BTC
$6.2B market value
MARA
Marathon Digital
🇺🇸 US
35,303 BTC
$2.3B market value
Metric
BTC-TETHER
MARA
BTC holdings
97,141 BTC
35,303 BTC
Market value of BTC
$6.2B
$2.3B
Average cost per BTC
$76,710.18
$68,236.16
Total cost basis
$7.5B
$2.4B
mNAV (market cap ÷ BTC value)
—
2.05×
Sats per share
—
9.3k
Last disclosed purchase
Dec 31, 2025
- Dec 31, 2025+0 BTC$312.9M
- Mar 28, 2025+0 BTC$750.0M
- Dec 27, 2024+0 BTC$122.9M
- Oct 25, 2024+0 BTC$472.7M
- Mar 29, 2024+0 BTC$621.4M
BTC-TETHER vs MARA: frequently asked
Which company holds more Bitcoin, BTC-TETHER or MARA?▾
Tether Holdings LTD (BTC-TETHER) holds 97,141 BTC, compared to Marathon Digital's (MARA) 35,303 BTC — roughly 2.8× more.
What's the total Bitcoin value on the balance sheets of BTC-TETHER and MARA?▾
BTC-TETHER holds $6.2B worth of Bitcoin at current market prices. MARA holds $2.3B.
Who has a lower cost basis per BTC, BTC-TETHER or MARA?▾
BTC-TETHER's average cost is $76,710.18 per BTC. MARA's is $68,236.16. MARA is the lower cost basis.
When did BTC-TETHER last buy Bitcoin?▾
BTC-TETHER disclosed a 0 BTC purchase on December 31, 2025.
When did MARA last buy Bitcoin?▾
MARA disclosed a -3,386 BTC purchase on May 11, 2026.