MARA vs. BTBT

Last updated Jun 5, 2026

MARA (MARA Holdings, Inc.) and BTBT (Bit Digital, Inc.) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 5 years, MARA returned -10.63%/yr vs -25.75%/yr for BTBT. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

MARA vs. BTBT - Performance Comparison

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

Returns By Period

In the year-to-date period, MARA achieves a 54.57% return, which is significantly higher than BTBT's -2.12% return.

MARA

• 1D: -0.57%
• 1M: 14.14%
• YTD: 54.57%
• 6M: 11.58%
• 1Y: -11.42%
• 3Y*: 14.73%
• 5Y*: -10.63%
• 10Y*: -11.03%

BTBT

• 1D: 0.00%
• 1M: 3.35%
• YTD: -2.12%
• 6M: -22.27%
• 1Y: -30.71%
• 3Y*: -12.69%
• 5Y*: -25.75%
• 10Y*: —

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

MARA vs. BTBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MARA MARA Holdings, Inc.	54.57%	-46.45%	-28.61%	586.84%	-89.59%	214.75%	1,084.48%	-39.16%	-72.97%
BTBT Bit Digital, Inc.	-2.12%	-35.49%	-30.73%	605.00%	-90.13%	-72.25%	5,377.50%	-93.85%	40.69%

Correlation

The correlation between MARA and BTBT is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018	0.54

The correlation between MARA and BTBT shifts across timeframes, from 0.54 (all time) to 0.75 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MARA : $5.28B BTBT : $602.43M
EPS MARA : -$4.95 BTBT : -$498.30
PS Ratio MARA : 6.58 BTBT : 0.02
Total Revenue (TTM) MARA : $867.82M BTBT : $28.01B
Gross Profit (TTM) MARA : $164.95M BTBT : $48.37M
EBITDA (TTM) MARA : $373.68M BTBT : -$162.09B

Return for Risk

MARA vs. BTBT — Risk / Return Rank

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

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

BTBT

BTBT Risk / Return Rank: 30
BTBT Sharpe Ratio Rank: 27
BTBT Sortino Ratio Rank: 33
BTBT Omega Ratio Rank: 33
BTBT Calmar Ratio Rank: 27
BTBT Martin Ratio Rank: 29

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. BTBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) and Bit Digital, Inc. (BTBT). 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.

	MARA	BTBT	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	-0.33	+0.19
Sortino ratio: Return per unit of downside risk	0.34	0.09	+0.25
Omega ratio: Gain probability vs. loss probability	1.04	1.01	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.16	-0.44	+0.28
Martin ratio: Return relative to average drawdown	-0.27	-0.70	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARA vs. BTBT - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.15, which is higher than the BTBT Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of MARA and BTBT, 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

	MARA	BTBT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.15	-0.33	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	-0.22	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-0.08	-0.01

Drawdowns

MARA vs. BTBT - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, roughly equal to the maximum BTBT drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for MARA and BTBT.

Drawdown Indicators

	MARA	BTBT	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-98.16%	-1.58%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-70.02%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	-77.08%	-1.26%
Max Drawdown (5Y) Largest decline over 5 years	-95.87%	-96.92%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	—	—
Current Drawdown Current decline from peak	-91.03%	-93.68%	+2.65%
Average Drawdown Average peak-to-trough decline	-78.00%	-75.51%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.10%	43.77%	-1.67%

Volatility

MARA vs. BTBT - Volatility Comparison

The current volatility for MARA Holdings, Inc. (MARA) is 16.25%, while Bit Digital, Inc. (BTBT) has a volatility of 33.22%. This indicates that MARA experiences smaller price fluctuations and is considered to be less risky than BTBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARA	BTBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.25%	33.22%	-16.97%
Volatility (6M) Calculated over the trailing 6-month period	57.91%	60.92%	-3.01%
Volatility (1Y) Calculated over the trailing 1-year period	77.37%	92.62%	-15.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.78%	117.51%	-11.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.03%	133.88%	+10.15%

Dividends

MARA vs. BTBT - Dividend Comparison

Neither MARA nor BTBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both MARA and BTBT in my portfolio?

MARA and BTBT have a correlation of 0.67, 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 BTBT?

BTBT has higher volatility (33.22%) compared to MARA (16.25%). In terms of maximum drawdown, MARA dropped -99.74% vs BTBT's -98.16%.

Which has better risk-adjusted returns?

MARA currently has the higher Sharpe Ratio (-0.15 vs -0.33), 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.