If you’re staring at your screen right now watching the MARA stock price today per share, you’re probably seeing a number around $10.66. It’s been a bit of a rollercoaster lately. Honestly, calling it a "rollercoaster" might be an understatement when you consider this stock was pushing $23 earlier in the year.
The market closed yesterday with MARA (now officially MARA Holdings, Inc.) down about 4.05%. It opened at $11.12, teased investors with a high of $11.25, and then slumped to a low of $10.64 before settling. For a company that’s basically a massive bet on the future of Bitcoin and infrastructure, these swings are just another Tuesday. Or in this case, another Friday in mid-January.
What’s Actually Driving the Price Right Now?
You can't talk about MARA without talking about Bitcoin. It’s the elephant in the room. But lately, the relationship has gotten... complicated. In late 2025 and moving into early 2026, we've seen Bitcoin hover around the $87,000 to $92,000 range. While that sounds like a moon-shot to someone from five years ago, for miners, the "halving" from last year is still stinging.
Mining is harder. Competition is fierce.
MARA reported a massive $123 million profit in a recent quarter, which sounds great until you realize the market is worried about dilution. They recently filed a shelf registration for 33 million common shares. In plain English? They might be printing more shares to raise cash. Investors usually hate that because it makes their existing shares worth a slightly smaller piece of the pie.
But there’s a reason they’re doing it.
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The Pivot to AI and Power
MARA isn’t just a "miner" anymore. They’re trying to become a power company. They’ve been talking a lot about diversifying into high-performance computing (HPC) and AI data centers. You've probably seen other miners like Hut 8 or Core Scientific doing the same thing.
The logic is simple:
- If Bitcoin prices drop, use the power for AI.
- AI needs massive amounts of electricity.
- MARA owns or controls a lot of electricity.
They’re currently pushing toward a goal of 75 EH/s (Exahash per second) of hashrate. To put that in perspective, they’re one of the largest players on the planet. They currently hold over 53,000 BTC in their treasury. That’s billions of dollars in "digital gold" sitting on their balance sheet.
The MARA Stock Price Today Per Share and the "Value" Gap
Check this out: some analysts are looking at MARA and seeing a huge mismatch. For instance, some fair value targets are sitting way up at $22 or even $35. Meanwhile, the stock is grinding away near its 52-week low of $8.95.
Why the gap?
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It's the "crypto discount." Wall Street is still skeptical of companies that hold volatile assets. When Bitcoin dips 1%, MARA often dips 4%. It has a high beta—around 5.44. That means it moves like Bitcoin on caffeine. If you have a weak stomach, this isn't the ticker for you.
Real Numbers You Should Know
If you’re digging into the specifics of the MARA stock price today per share, here’s the raw data from the last few trading sessions:
- January 15, 2026: Closed at $10.66.
- January 14, 2026: Closed at $11.11.
- January 13, 2026: Closed at $10.95.
- 52-Week High: $23.45.
- 52-Week Low: $8.95.
The trading volume is still massive. We’re talking 47 million shares changing hands in a single day. That's not "dead" retail interest; that's institutional fighting. Piper Sandler recently lowered their price target from $26 down to $16, but they kept a "Buy" rating. Even the skeptics at J.P. Morgan, who have a "Sell" or "Neutral" lean, have targets around $14 to $16.
So, if the experts think it's worth $16 and it's trading at $10.66, why isn't everyone buying?
Because of the "execution risk." Transitioning from a pure Bitcoin miner to an AI data center provider isn't as easy as flipping a switch. You need different hardware (GPUs instead of ASICs), different cooling, and different contracts.
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The Competitive Landscape
MARA isn't alone in this.
You’ve got Riot Platforms (RIOT) and CleanSpark (CLSK) breathing down their neck. Interestingly, while MARA has lagged a bit, some of its peers have seen triple-digit gains by pivoting more aggressively to AI.
MARA’s strategy is "HODL." They stop selling the Bitcoin they mine and just add it to the pile. It’s a bold strategy. If Bitcoin goes to $200,000, MARA looks like a genius. If Bitcoin stays flat and their mining costs keep rising, they’re going to need to sell those new 33 million shares just to keep the lights on.
What to Watch Next
If you’re holding or thinking about buying, keep an eye on February 25. That’s the expected date for the next earnings report. Usually, the "whisper numbers" start coming out a week before.
Also, watch the "hashrate" updates. If MARA can actually hit that 75 EH/s target by the end of the year, they’ll be the undisputed heavyweight champion of the mining world. But size doesn't always equal profit if the cost of electricity in their Texas or Abu Dhabi facilities spikes.
Actionable Steps for Investors
Don't just stare at the ticker. If you're serious about tracking the MARA stock price today per share, here’s how to actually play it:
- Check the BTC/MARA Ratio: If Bitcoin is rising and MARA is flat, something is wrong—usually concerns about share dilution or operational downtime.
- Monitor the 50-Day Moving Average: Right now, the stock is trading below its 50-day average of roughly $12.68. Until it breaks above that, the "trend" is technically down.
- Watch the Options Chain: There was a lot of activity on the January 2026 $10.50 puts recently. This suggests a lot of traders are betting the stock stays right around this level for a while.
- Diversification is Key: If you love the sector but hate the MARA-specific drama, look at ETFs like WGMI (CoinShares Bitcoin Mining ETF). They hold MARA, but they also hold its competitors, which smooths out the bumps.
Ultimately, MARA is a proxy for two of the biggest tech trends of the decade: decentralized finance and artificial intelligence. It’s messy, it’s volatile, and it’s definitely not for the faint of heart. But at $10 and change, it’s at a price point that has historically acted as a "floor" for the company over the last twelve months. Whether that floor holds or turns into a trap depends entirely on the next few months of operational updates.