MARA vs. GBTC
Compare and contrast key facts about Marathon Digital Holdings, Inc. (MARA) and Grayscale Bitcoin Trust (BTC) (GBTC).
Performance
MARA vs. GBTC - Performance Comparison
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MARA vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MARA Marathon Digital Holdings, Inc. | -10.47% | -46.45% | -28.61% | 586.84% | -89.59% | 214.75% | 1,084.48% | -39.16% | -91.17% | -40.41% |
GBTC Grayscale Bitcoin Trust (BTC) | -22.40% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 290.72% | 106.56% | -82.10% | 1,787.72% |
Fundamentals
MARA:
$907.09M
GBTC:
$0.00
MARA:
$576.49M
GBTC:
$0.00
MARA:
-$559.37M
GBTC:
-$43.28K
Returns By Period
In the year-to-date period, MARA achieves a -10.47% return, which is significantly higher than GBTC's -22.40% return. Over the past 10 years, MARA has underperformed GBTC with an annualized return of -12.77%, while GBTC has yielded a comparatively higher 58.56% annualized return.
MARA
- 1D
- -1.47%
- 1M
- -14.92%
- YTD
- -10.47%
- 6M
- -56.80%
- 1Y
- -32.09%
- 3Y*
- -2.67%
- 5Y*
- -30.29%
- 10Y*
- -12.77%
GBTC
- 1D
- 0.55%
- 1M
- -1.56%
- YTD
- -22.40%
- 6M
- -42.46%
- 1Y
- -21.01%
- 3Y*
- 48.01%
- 5Y*
- 0.84%
- 10Y*
- 58.56%
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Return for Risk
MARA vs. GBTC — Risk / Return Rank
MARA
GBTC
MARA vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Marathon Digital Holdings, Inc. (MARA) and Grayscale Bitcoin Trust (BTC) (GBTC). 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 | GBTC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | -0.47 | +0.07 |
Sortino ratioReturn per unit of downside risk | -0.11 | -0.41 | +0.30 |
Omega ratioGain probability vs. loss probability | 0.99 | 0.95 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.38 | -0.05 |
Martin ratioReturn relative to average drawdown | -0.81 | -0.80 | -0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MARA | GBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | -0.47 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.01 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.09 | 0.71 | -0.80 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.67 | -0.78 |
Correlation
The correlation between MARA and GBTC is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MARA vs. GBTC - Dividend Comparison
Neither MARA nor GBTC has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MARA Marathon Digital Holdings, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
Drawdowns
MARA vs. GBTC - Drawdown Comparison
The maximum MARA drawdown since its inception was -99.74%, which is greater than GBTC's maximum drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for MARA and GBTC.
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Drawdown Indicators
| MARA | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -89.91% | -9.83% |
Max Drawdown (1Y)Largest decline over 1 year | -70.53% | -49.55% | -20.98% |
Max Drawdown (5Y)Largest decline over 5 years | -95.87% | -85.80% | -10.07% |
Max Drawdown (10Y)Largest decline over 10 years | -99.20% | -89.91% | -9.29% |
Current DrawdownCurrent decline from peak | -94.80% | -46.10% | -48.70% |
Average DrawdownAverage peak-to-trough decline | -77.82% | -43.48% | -34.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.17% | 23.39% | +13.78% |
Volatility
MARA vs. GBTC - Volatility Comparison
Marathon Digital Holdings, Inc. (MARA) has a higher volatility of 23.86% compared to Grayscale Bitcoin Trust (BTC) (GBTC) at 12.99%. This indicates that MARA's price experiences larger fluctuations and is considered to be riskier than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MARA | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.86% | 12.99% | +10.87% |
Volatility (6M)Calculated over the trailing 6-month period | 61.56% | 36.80% | +24.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.56% | 45.30% | +36.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.54% | 64.19% | +43.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 144.03% | 82.56% | +61.47% |
Financials
MARA vs. GBTC - Financials Comparison
This section allows you to compare key financial metrics between Marathon Digital Holdings, Inc. and Grayscale Bitcoin Trust (BTC). You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities