BTDR vs. MARA

Last updated Jun 4, 2026

BTDR (Bitdeer Technologies Group Class A Ordinary Shares) and MARA (Marathon Digital Holdings, Inc.) are both stocks. BTDR operates in Software - Application (Technology), while MARA operates in Capital Markets (Financial Services). Over the past 3 years, BTDR returned 59.58%/yr vs 11.65%/yr for MARA. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

BTDR vs. MARA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Marathon Digital Holdings, Inc. (MARA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTDR achieves a 75.83% return, which is significantly higher than MARA's 55.46% return.

BTDR

• 1D: 5.06%
• 1M: 62.09%
• YTD: 75.83%
• 6M: 56.30%
• 1Y: 52.67%
• 3Y*: 59.58%
• 5Y*: —
• 10Y*: —

MARA

• 1D: -2.24%
• 1M: 18.01%
• YTD: 55.46%
• 6M: 11.95%
• 1Y: -8.94%
• 3Y*: 11.65%
• 5Y*: -10.53%
• 10Y*: -10.91%

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

BTDR vs. MARA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BTDR Bitdeer Technologies Group Class A Ordinary Shares	75.83%	-48.27%	119.78%	-1.40%
MARA Marathon Digital Holdings, Inc.	55.46%	-46.45%	-28.61%	103.91%

Correlation

The correlation between BTDR and MARA is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 14, 2023	0.54

The correlation between BTDR and MARA has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.

Fundamentals

Market Cap BTDR : $4.60B MARA : $5.31B
EPS BTDR : -$2.23 MARA : -$4.95
PS Ratio BTDR : 6.03 MARA : 6.62
Total Revenue (TTM) BTDR : $739.06M MARA : $867.82M
Gross Profit (TTM) BTDR : $25.18M MARA : $164.95M
EBITDA (TTM) BTDR : $59.65M MARA : $373.68M

Return for Risk

BTDR vs. MARA — Risk / Return Rank

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

BTDR

BTDR Risk / Return Rank: 58
BTDR Sharpe Ratio Rank: 58
BTDR Sortino Ratio Rank: 63
BTDR Omega Ratio Rank: 59
BTDR Calmar Ratio Rank: 56
BTDR Martin Ratio Rank: 53

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: 36

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.

BTDR vs. MARA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitdeer Technologies Group Class A Ordinary Shares (BTDR) and Marathon Digital 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.

	BTDR	MARA	Difference
Sharpe ratio Return per unit of total volatility	0.53	-0.12	+0.65
Sortino ratio Return per unit of downside risk	1.42	0.39	+1.02
Omega ratio Gain probability vs. loss probability	1.17	1.05	+0.12
Calmar ratio Return relative to maximum drawdown	0.74	-0.13	+0.86
Martin ratio Return relative to average drawdown	1.24	-0.21	+1.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTDR vs. MARA - Sharpe Ratio Comparison

The current BTDR Sharpe Ratio is 0.53, which is higher than the MARA Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of BTDR 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

	BTDR	MARA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	-0.12	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.10	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	-0.09	+0.29

Drawdowns

BTDR vs. MARA - Drawdown Comparison

The maximum BTDR drawdown since its inception was -79.52%, smaller than the maximum MARA drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for BTDR and MARA.

Drawdown Indicators

	BTDR	MARA	Difference
Max Drawdown Largest peak-to-trough decline	-79.52%	-99.74%	+20.22%
Max Drawdown (1Y) Largest decline over 1 year	-71.89%	-70.53%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-79.52%	-78.34%	-1.18%
Max Drawdown (5Y) Largest decline over 5 years	—	-95.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.20%	—
Current Drawdown Current decline from peak	-24.48%	-90.98%	+66.50%
Average Drawdown Average peak-to-trough decline	-43.78%	-78.00%	+34.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.65%	42.03%	+0.62%

Volatility

BTDR vs. MARA - Volatility Comparison

Bitdeer Technologies Group Class A Ordinary Shares (BTDR) has a higher volatility of 34.35% compared to Marathon Digital Holdings, Inc. (MARA) at 16.33%. This indicates that BTDR'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

	BTDR	MARA	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.35%	16.33%	+18.02%
Volatility (6M) Calculated over the trailing 6-month period	67.55%	58.00%	+9.55%
Volatility (1Y) Calculated over the trailing 1-year period	100.00%	77.65%	+22.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	122.89%	105.79%	+17.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.89%	144.06%	-21.17%

Dividends

BTDR vs. MARA - Dividend Comparison

Neither BTDR nor MARA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BTDR and MARA in my portfolio?

BTDR and MARA have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTDR or MARA?

BTDR has higher volatility (34.35%) compared to MARA (16.33%). In terms of maximum drawdown, BTDR dropped -79.52% vs MARA's -99.74%.

Which has better risk-adjusted returns?

BTDR currently has the higher Sharpe Ratio (0.53 vs -0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.