How to invest MARA Holdings Stock in Canada [2025]

Key Takeaways

• MARA Holdings (NASDAQ: MARA) is a Bitcoin mining and AI infrastructure company with over 52,000 BTC and strategic energy investments in Texas.
• As of Nov 17, 2025, stock closed at USD 12.78 with a market cap of USD 4.53B and a low PE ratio of 4.67.
• Q3 2025 revenue surged 91.73% YoY to $252.4M, with net income at $123.1M, despite a negative operating profit.
• No dividends are paid; earnings are reinvested into growth in AI and infrastructure sectors.
• Canadian investors can buy MARA in TFSA or RRSP; RRSP offers better tax efficiency for U.S. equities.

MARA Holdings (MARA) is a leading digital asset technology company primarily focused on Bitcoin mining and infrastructure. With over 52,000 BTC and a vertically integrated approach spanning energy generation, AI data centers, and modular mining operations, it leverages low-cost power and strategic global partnerships to maintain competitive efficiency. The firm’s transition toward AI infrastructure, including a stake in Exaion and energy ventures in Texas, highlights its long-term growth potential in converging crypto and compute sectors.

Source: moomoo, data as of 25-11-17.

Is MARA Holdings stock overvalued or undervalued?

MARA Holdings (NASDAQ: MARA) has been the subject of considerable attention among Canadian investors due to its positioning at the intersection of the Bitcoin and AI infrastructure markets. While rapid shifts in MARA's stock price often stem from volatility in the cryptocurrency sector, assessing its fair valuation involves more than just tracking Bitcoin’s performance. Investors looking to determine the stock's intrinsic value should examine a combination of market sentiment, recent earnings, and key financial ratios.

As of November 17, 2025, MARA stock closed at USD 12.78. The company’s recent quarterly earnings showcased impressive revenue growth of 92% year-over-year, largely attributed to Bitcoin gains and AI-related momentum. Nonetheless, its stock has seen a sharp correction in recent weeks, dropping from a high of over USD 20.00 to under USD 13.00, possibly reflecting short-term overextensions or profit-taking behavior.

To better understand MARA Holdings' valuation for long-term investing, let's look at several essential performance indicators, which provide clearer insights regarding its current financial stance amid crypto and tech-driven market cycles.

Key financial metrics for MARA Holdings

Source: moomoo, data as of 25-11-17.

MARA Holdings price forecast

Despite recent price declines, many analysts still see upside potential in MARA stock price. According to the latest forecasts, the average analyst target price for MARA Holdings is USD 24.44, with estimates ranging from USD 16.00 to as high as USD 30.00. This reflects a possible gain exceeding 90% from the last close, assuming continued momentum in Bitcoin and successful execution of MARA’s AI and infrastructure ventures.

The accuracy of these MARA stock price predictions hinges on variables such as crypto market stability, successful integration of its AI infrastructure through the Exaion acquisition, and broader macroeconomic sentiments. For Canadian investors specifically, the exchange rate and tech sector performance in North America may also influence cross-border valuation appeal.

MARA Holdings’ current valuation places it among growth-oriented digital asset plays, yet with a comparatively low PE ratio and strong earnings recovery—making its price attractive for those seeking exposure to Bitcoin and AI infrastructure in one equity.

MARA Holdings earnings 2025Q3 analysis

Source: MARA Holdings Financial Statements, data as of 2025-11-17

MARA Holdings delivered robust financial results for Q3 2025, showcasing significant progress since the same quarter in 2024. The company reported a revenue of $252.41 million, marking a 91.73% year-over-year increase, fueled largely by stronger Bitcoin market performance and increased mining capacity. Net profit surged to $123.13 million, reversing from a net loss of $124.79 million a year ago, thanks to gains in digital assets. This marked a positive shift in sentiment evident during the latest MARA Holdings earnings call, where leadership outlined their strategic pivot toward AI infrastructure and power generation. The reported earnings per share stood at $0.27, a sharp turnaround from -$0.42 in Q3 2024, reflecting improved operational and market conditions.

Even though the company still reported a negative operating profit of $156.32 million, this represents a year-over-year improvement of 16.86% in losses. Like a homeowner investing in solar panels to reduce future electricity bills while shouldering upfront costs, MARA is absorbing near-term operating expenses to expand long-term profitability. During the MARA Holdings earnings date on November 5, 2025, executives emphasized key developments such as the acquisition of Exaion and a partnership with MPLX in Texas. These moves aim to transition the business into a vertically integrated digital infrastructure provider, diversifying beyond its Bitcoin mining roots and aligning with future-ready sectors like AI-powered data centers.

MARA Holdings stock split analysis

MARA Holdings (NASDAQ: MARA) has a storied history of stock split activity, which reflects the company's evolving strategy and investor positioning over time. A stock split—or in several cases, a reverse stock split—can significantly impact shareholder value by altering the number of outstanding shares and the trading price. MARA's most recent stock split occurred on April 8, 2019, and was a 1-for-4 reverse stock split, effectively consolidating four existing shares into one. Earlier notable events include both splits and combinations, dating back to 2011. Investors tracking MARA stock split history should be aware of these adjustments when analyzing historical share performance or building long-term investment models.

Source: MARA Holdings Stock Splits History, data as of 25-11-17

MARA Holdings dividends analysis

When evaluating investment opportunities like MARA Holdings (NASDAQ: MARA), dividend performance is often a key consideration for Canadian investors seeking income-generating assets. However, MARA Holdings operates as a digital asset and Bitcoin mining company with a primary focus on capital appreciation rather than consistent income distribution. Historically, companies in the cryptocurrency mining and infrastructure sectors reinvest earnings heavily into operations and expansion strategies. This approach allows for scaling computational capacity, funding acquisitions, and hedging against market volatility—key elements of MARA Holdings' business model as evidenced by its recent pivot toward AI data centers and vertically integrated digital infrastructure.

As of the latest available data, MARA Holdings does not pay regular dividends to its shareholders. Instead, the company retains its earnings to support its aggressive growth trajectory in both the energy and AI sectors. Therefore, investors interested in MARA Holdings dividend performance should expect a growth-oriented model over a dividend play, especially in the current phase of technological and territorial expansion.

Can I Invest MARA Holdings stock with a TFSA or RRSP?

Canadian investors interested in MARA Holdings (NASDAQ: MARA), an American digital asset technology firm deeply involved in Bitcoin mining and AI infrastructure, can access this U.S.-listed stock through both a TFSA (Tax-Free Savings Account) and RRSP (Registered Retirement Savings Plan). When buying U.S. stocks in a TFSA, it’s important to note that dividends from American companies are subject to a 15% withholding tax, even within a tax-free shelter. However, this tax doesn't apply to capital gains. In contrast, if you buy U.S. stocks like MARA in an RRSP, qualified under the Canada-U.S. tax treaty, you can avoid the withholding tax, optimizing long-term returns. Therefore, many Canadians opt to buy stocks with their RRSP when targeting U.S. equities for more efficient tax deferral and retirement growth.

How to invest MARA Holdings stock in Canada?

If you're based in Canada and looking to invest in MARA Holdings (NASDAQ: MARA) stock, which operates in the digital asset and AI infrastructure sector, it's easier than ever thanks to user-friendly platforms and flexible investing options. Here's a step-by-step guide tailored for Canadian residents new to U.S. stock investing.

Step 1: Pick a stock trading platform

Choosing the right brokerage platform is essential to efficiently invest in MARA Holdings stock from Canada. Focus on platforms that provide:

• Access to U.S. markets: Ensure the platform allows trading on NASDAQ where MARA is listed.
• Low fees on U.S. trades: Look for discounted commissions and minimal currency conversion charges.
• Ease of use: For busy employees, a mobile-friendly interface and intuitive design can save time.
• Research tools: Platforms with built-in analyst ratings, market data, and news help streamline decision-making.

Step 2: Choose the right account type and open an account

In Canada, you have several account options for buying U.S. stocks like MARA Holdings. Each has its own tax implications and flexibility:

• TFSA (Tax-Free Savings Account): Allows U.S. stock investments with no tax on capital gains, though dividend withholding taxes may still apply.
• RRSP or SRRSP (Registered Retirement Savings Plan): Tax-deferred growth and exemption from U.S. withholding tax on dividends under the Canada-U.S. tax treaty.
• Margin Account: Lets you borrow money to buy MARA stock, increasing potential returns and risk.
• Cash Account: A straightforward account where you invest funds you’ve deposited without leverage.

To open a brokerage account in Canada, you’ll need to provide government-issued ID, your Social Insurance Number (SIN) for tax purposes, and employment or financial details to assess your investing profile.

Step 3: Fund your account

Most Canadian brokerages support funding via Interac e-Transfer, direct bank transfer, wire transfer, and sometimes credit card deposits. Processing times and limits may vary by method and provider.

Step 4: Research MARA Holdings's fundamentals

Before investing in MARA Holdings, analyze key metrics such as its revenue sources (mainly Bitcoin mining and digital infrastructure), earnings trends, and financial health. As of Q3 2025, the company reported $252.4 million in revenue, a 92% year-over-year increase, and its net income flipped positive to $123.1 million. This shift is partly due to higher Bitcoin prices and AI infrastructure expansion.

Step 5: Set a budget for your MARA Holdings stock purchase

As a Canadian investor, determine how much of your overall portfolio you want to allocate to individual U.S. stocks like MARA Holdings. Consider the following:

• Set your budget based on available funds and ensure a diversified portfolio.
• Establish an emergency fund before investing to cover unexpected expenses.
• If a whole share of MARA stock is too costly, look for platforms that offer fractional shares, letting you invest with smaller amounts.

Step 6: Place your MARA Holdings's order

Once your account is funded and you’ve done your research, search for MARA Holdings using its ticker symbol "MARA". Choose the type of order (market, limit, or stop), specify the number of shares or dollar amount if buying fractional shares, then confirm your trade during market hours.

Step 7: Monitor and manage your investment

After purchasing MARA Holdings stock, periodically review its financial performance, especially as it expands into AI and infrastructure. Use tools in your platform to set price alerts, review earnings reports, and reallocate your portfolio as needed based on your financial goals and risk tolerance.

Alternative ways to invest in MARA Holdings?

Beyond directly purchasing shares of MARA Holdings (MARA.US), Canadian investors can explore alternative investment methods that suit different risk profiles and portfolio strategies. These options include ETFs, options trading, and similar stocks within the same sector.

MARA Holdings ETFs

Exchange-traded funds (ETFs) provide exposure to a diversified basket of stocks, which can reduce the risk associated with investing in a single company like MARA Holdings. They are also typically lower in cost and more liquid than actively managed mutual funds.

• Global X Blockchain ETF (BKCH) - This ETF provides exposure to companies involved in blockchain technology, including MARA Holdings. It can help investors gain diversified access to blockchain without picking individual stocks.
• VanEck Digital Transformation ETF (DAPP) - DAPP includes companies participating in the digital assets economy. It holds MARA as part of its allocation to Bitcoin miners and blockchain service providers.
• Siren Nasdaq NexGen Economy ETF (BLCN) - A broader ETF focusing on blockchain innovation across various industries. MARA is part of its diversified holdings, offering indirect exposure to its performance.

MARA Holdings options

Canadian investors with a more advanced understanding of the market may consider options trading to gain exposure to MARA Holdings. Options contracts can be used to speculate on price movements or hedge existing positions. MARA options exhibit a high level of implied volatility, with a put-call ratio of 0.61 on Nov 14, 2025, indicating active speculative interest. While no unusual options activity was reported recently, the daily traded volumes (e.g., 218,570 call contracts on Nov 14) suggest a liquid options market for this stock.

Stocks similar to MARA Holdings

If you're seeking exposure to companies in a similar field as MARA Holdings, several publicly traded firms may offer comparable opportunities in the crypto mining or blockchain technology sector.

• Riot Platforms (RIOT) - A U.S.-based Bitcoin mining company that competes directly with MARA, offering similar operational exposure to crypto asset prices.
• CleanSpark Inc. (CLSK) - Focuses on sustainable Bitcoin mining with an emphasis on renewable energy, which appeals to ESG-conscious investors.
• Hut 8 Mining Corp. (HUT.TO) - A Canadian digital asset mining firm listed on the TSX that provides exposure for investors seeking domestic alternatives.
• Bitfarms Ltd. (BITF.TO) - Another Canadian-based miner offering operational scale and potential upside linked to crypto market cycles.

Is it a good time to invest in MARA Holdings stock?

For Canadian investors analysing MARA Holdings (NASDAQ: MARA), timing considerations must weigh recent market dynamics against longer-term trends. As of November 14, 2025, MARA closed at USD $11.99, representing a sharp decline of over 40% from its October high of $20.73. While this might suggest a value opportunity, deeper financial context is essential.

MARA’s Q3 2025 earnings showed significant topline growth, with revenue soaring 92% year-over-year to $252.4 million, alongside $123.1 million in net income. This turnaround was fuelled by increased Bitcoin production and asset valuation. Despite earnings per share of $0.27 beating expectations, forward guidance reveals caution—Q4 earnings are estimated at -$0.037 per share, indicating potential headwinds.

Cash flow challenges persist, with negative free cash flow of $283.9 million in Q3 2025 despite $1.2 billion in financing inflows. Additionally, MARA’s stock has been volatile; its 52-week range spans $9.81 to $30.28. This volatility is compounded by a short interest ratio of 12.13% and a high beta of 5.41, making it particularly sensitive to crypto price swings.

While institutional backing remains solid—top holders include BlackRock and Vanguard—investors in Canada should align any decision with personal risk tolerance and exposure to cryptocurrency markets.

Source: Moomoo, data as of 25-11-14