MARA vs. BMNR

Last updated Jun 13, 2026

MARA (MARA Holdings, Inc.) and BMNR (BitMine Immersion Technologies, Inc.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past year, MARA returned -6.38% vs 224.89% for BMNR. A 0.58 correlation means they provide meaningful diversification when combined.

Performance

MARA vs. BMNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MARA Holdings, Inc. (MARA) and BitMine Immersion Technologies, Inc. (BMNR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MARA achieves a 56.79% return, which is significantly higher than BMNR's -40.66% return.

MARA

• 1D: 3.45%
• 1M: 13.18%
• YTD: 56.79%
• 6M: 22.22%
• 1Y: -6.38%
• 3Y*: 13.30%
• 5Y*: -11.91%
• 10Y*: -10.09%

BMNR

• 1D: -2.48%
• 1M: -18.92%
• YTD: -40.66%
• 6M: -53.79%
• 1Y: 224.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MARA vs. BMNR - Yearly Performance Comparison

	2026 (YTD)	2025
MARA MARA Holdings, Inc.	56.79%	-42.69%
BMNR BitMine Immersion Technologies, Inc.	-40.66%	274.59%

Correlation

The correlation between MARA and BMNR is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.58

The correlation between MARA and BMNR has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Fundamentals

Market Cap MARA : $5.35B BMNR : $7.32T
EPS MARA : -$4.95 BMNR : -$0.06
PS Ratio MARA : 6.68 BMNR : 146.26K
Total Revenue (TTM) MARA : $867.82M BMNR : $16.71M
Gross Profit (TTM) MARA : $164.95M BMNR : $1.15M
EBITDA (TTM) MARA : $373.68M BMNR : -$3.62B

Return for Risk

MARA vs. BMNR — Risk / Return Rank

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

MARA

MARA Risk / Return Rank: 39
MARA Sharpe Ratio Rank: 37
MARA Sortino Ratio Rank: 41
MARA Omega Ratio Rank: 40
MARA Calmar Ratio Rank: 38
MARA Martin Ratio Rank: 39

BMNR

BMNR Risk / Return Rank: 79
BMNR Sharpe Ratio Rank: 52
BMNR Sortino Ratio Rank: 99
BMNR Omega Ratio Rank: 99
BMNR Calmar Ratio Rank: 77
BMNR Martin Ratio Rank: 66

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.

MARA vs. BMNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) and BitMine Immersion Technologies, Inc. (BMNR). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MARA	BMNR	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	0.26	-0.40
Sortino ratio: Return per unit of downside risk	0.37	8.22	-7.85
Omega ratio: Gain probability vs. loss probability	1.04	1.97	-0.93
Calmar ratio: Return relative to maximum drawdown	-0.16	2.13	-2.29
Martin ratio: Return relative to average drawdown	-0.26	2.56	-2.82

MARA vs. BMNR - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.14, which is lower than the BMNR Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of MARA and BMNR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MARA vs. BMNR - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, which is greater than BMNR's maximum drawdown of -88.41%. Use the drawdown chart below to compare losses from any high point for MARA and BMNR.

Drawdown Indicators

	MARA	BMNR	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-88.41%	-11.33%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-88.41%	+17.88%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	—	—
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	-90.90%	-88.06%	-2.84%
Average Drawdown Average peak-to-trough decline	-78.00%	-70.84%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.56%	73.42%	-30.86%

Volatility

MARA vs. BMNR - Volatility Comparison

MARA Holdings, Inc. (MARA) and BitMine Immersion Technologies, Inc. (BMNR) have volatilities of 23.71% and 22.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARA	BMNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.71%	22.82%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	60.50%	60.99%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	79.29%	717.57%	-638.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.98%	710.73%	-604.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.15%	710.73%	-566.58%

Dividends

MARA vs. BMNR - Dividend Comparison

MARA has not paid dividends to shareholders, while BMNR's dividend yield for the trailing twelve months is around 0.06%.

Position	TTM	2025
BMNR BitMine Immersion Technologies, Inc.	0.06%	0.04%
MARA MARA Holdings, Inc.	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both MARA and BMNR in my portfolio?

MARA and BMNR have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARA or BMNR?

MARA has higher volatility (23.71%) compared to BMNR (22.82%). In terms of maximum drawdown, MARA dropped -99.74% vs BMNR's -88.41%.

Which has better risk-adjusted returns?

BMNR currently has the higher Sharpe Ratio (0.26 vs -0.14), 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.