MARA Holdings CEO Continues Selling 4.1 Million Shares as Stock Hits Year‑Low – Investors Warned of Leadership’s Cautious Outlook

Insider Selling Continues at MARA Holdings – What It Means for Investors

Recent filings show CEO Thiel Frederick G continuing a pattern of share sales that has now stretched to over 4.1 million shares held after the most recent transaction. On February 5, 2026, he sold 67,704 shares at $9.12 each, a move that comes shortly after the company’s stock closed at $6.73 the day before—its lowest level in the current trading year. The sale was triggered by tax withholding on vested restricted units, a common mechanism for insiders to meet tax obligations, yet it adds to a steady stream of selling that has persisted since mid‑2025.

Implications for Shareholders and the Company’s Outlook

The cumulative effect of CEO‑led sales, coupled with the broader decline in MARA’s share price (down 13% week‑to‑week, 18% month‑to‑month, and 51% year‑to‑date), signals a lack of confidence from the company’s top leadership in the short‑term upside of the business. For investors, the continued selling may be interpreted as a signal that the management team is not fully bullish on the firm’s trajectory amid a challenging crypto‑mining environment. However, the sales are relatively modest relative to the outstanding shares (approximately 1% of total shares outstanding), and the CEO’s holdings remain well above the 5% threshold required for reporting under SEC rules, suggesting he still believes in the long‑term potential of MARA.

A Profile of Thiel Frederick G Based on Historical Activity

Thiel’s insider history reveals a consistent pattern of selling that began in early 2025 and has accelerated into 2026. In 2025 alone, he sold shares in 19 separate filings, often in amounts ranging from a few thousand to over 55,000 shares, with average selling prices between $15 and $20. The most recent sale of 67,704 shares at $9.12 is notably below his historical average, reflecting the current depressed market conditions. Despite frequent sales, his post‑transaction holdings have remained steady in the 4–4.5 million share range, indicating that he is not divesting entirely but rather managing his tax liabilities and liquidity needs while maintaining a significant stake.

Insider Activity Across the Board

CEO selling is mirrored by other senior executives: CFO Khan Salman Hassan and General Counsel Nowaid Zabi have each executed a handful of sales in February. These moves suggest that the upper echelon of MARA’s leadership is collectively navigating the same liquidity and tax considerations that the CEO faces. In an industry where market volatility is the norm, such coordinated selling is not unusual, but it does warrant attention from investors monitoring the company’s governance and long‑term strategy.

Investor Takeaway

For those holding or considering adding MARA to their portfolio, the insider selling trail underscores the need to evaluate the firm’s fundamentals—particularly its dependence on Bitcoin price swings and the broader regulatory landscape for crypto mining. While insider sales are not inherently negative, the pattern at MARA may signal a cautious stance from the company’s leadership amid sustained market headwinds. Investors should weigh the continued liquidity management against MARA’s long‑term growth prospects, keeping an eye on future earnings reports and any strategic shifts that might reverse the current downward trajectory.