BITF.TO vs. MARA

Last updated Jun 5, 2026

BITF.TO (Bitfarms Ltd) and MARA (MARA Holdings, Inc.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 5 years, BITF.TO returned 8.86%/yr vs -8.06%/yr for MARA. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

BITF.TO vs. MARA - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Bitfarms Ltd (BITF.TO) and MARA Holdings, Inc. (MARA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BITF.TO is traded in CAD, while MARA is traded in USD. To make them comparable, the MARA values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BITF.TO achieves a 155.11% return, which is significantly higher than MARA's 56.69% return.

BITF.TO

• 1D: -4.19%
• 1M: 70.60%
• YTD: 155.11%
• 6M: 89.86%
• 1Y: 538.76%
• 3Y*: 76.45%
• 5Y*: 8.86%
• 10Y*: —

MARA

• 1D: -0.47%
• 1M: 16.59%
• YTD: 56.69%
• 6M: 11.19%
• 1Y: -9.92%
• 3Y*: 16.04%
• 5Y*: -8.06%
• 10Y*: -10.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BITF.TO vs. MARA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BITF.TO Bitfarms Ltd	155.11%	51.64%	-44.68%	587.50%	-91.22%	155.20%	400.00%	-75.00%
MARA MARA Holdings, Inc.	56.69%	-48.91%	-22.47%	571.71%	-88.85%	211.91%	1,064.46%	-60.81%

Correlation

The correlation between BITF.TO and MARA is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.63

The correlation between BITF.TO and MARA has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

Fundamentals

Market Cap BITF.TO : CA$4.97B MARA : $5.28B
EPS BITF.TO : -CA$0.56 MARA : -$4.95
PS Ratio BITF.TO : 23.48 MARA : 6.58
Total Revenue (TTM) BITF.TO : CA$199.32M MARA : $867.82M
Gross Profit (TTM) BITF.TO : -CA$44.60M MARA : $164.95M
EBITDA (TTM) BITF.TO : -CA$99.48M MARA : $373.68M

Return for Risk

BITF.TO vs. MARA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITF.TO

BITF.TO Risk / Return Rank: 94
BITF.TO Sharpe Ratio Rank: 98
BITF.TO Sortino Ratio Rank: 95
BITF.TO Omega Ratio Rank: 92
BITF.TO Calmar Ratio Rank: 95
BITF.TO Martin Ratio Rank: 90

MARA

MARA Risk / Return Rank: 37
MARA Sharpe Ratio Rank: 36
MARA Sortino Ratio Rank: 39
MARA Omega Ratio Rank: 38
MARA Calmar Ratio Rank: 36
MARA Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITF.TO vs. MARA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitfarms Ltd (BITF.TO) and MARA Holdings, Inc. (MARA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BITF.TO	MARA	Difference
Sharpe ratio: Return per unit of total volatility	4.83	-0.13	+4.96
Sortino ratio: Return per unit of downside risk	4.07	0.37	+3.71
Omega ratio: Gain probability vs. loss probability	1.48	1.04	+0.44
Calmar ratio: Return relative to maximum drawdown	7.31	-0.14	+7.45
Martin ratio: Return relative to average drawdown	12.11	-0.23	+12.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITF.TO vs. MARA - Sharpe Ratio Comparison

The current BITF.TO Sharpe Ratio is 4.83, which is higher than the MARA Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of BITF.TO and MARA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITF.TO	MARA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.83	-0.13	+4.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.08	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	-0.08	+0.27

Drawdowns

BITF.TO vs. MARA - Drawdown Comparison

The maximum BITF.TO drawdown since its inception was -95.19%, roughly equal to the maximum MARA drawdown of -99.68%. Use the drawdown chart below to compare losses from any high point for BITF.TO and MARA.

Drawdown Indicators

	BITF.TO	MARA	Difference
Max Drawdown Largest peak-to-trough decline	-95.19%	-99.68%	+4.49%
Max Drawdown (1Y) Largest decline over 1 year	-74.40%	-71.22%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-79.84%	-78.10%	-1.74%
Max Drawdown (5Y) Largest decline over 5 years	-95.19%	-95.51%	+0.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.13%	—
Current Drawdown Current decline from peak	-25.29%	-89.26%	+63.97%
Average Drawdown Average peak-to-trough decline	-69.62%	-76.38%	+6.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.80%	42.69%	+2.11%

Volatility

BITF.TO vs. MARA - Volatility Comparison

Bitfarms Ltd (BITF.TO) has a higher volatility of 26.82% compared to MARA Holdings, Inc. (MARA) at 16.27%. This indicates that BITF.TO's price experiences larger fluctuations and is considered to be riskier than MARA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITF.TO	MARA	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.82%	16.27%	+10.55%
Volatility (6M) Calculated over the trailing 6-month period	68.65%	57.72%	+10.93%
Volatility (1Y) Calculated over the trailing 1-year period	112.59%	76.70%	+35.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.48%	104.16%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.87%	143.01%	-22.14%

Dividends

BITF.TO vs. MARA - Dividend Comparison

Neither BITF.TO nor MARA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BITF.TO and MARA in my portfolio?

BITF.TO and MARA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.