<SEC-DOCUMENT>0001493152-25-008783.txt : 20250228
<SEC-HEADER>0001493152-25-008783.hdr.sgml : 20250228
<ACCEPTANCE-DATETIME>20250228213858
ACCESSION NUMBER:		0001493152-25-008783
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250228
FILED AS OF DATE:		20250228
DATE AS OF CHANGE:		20250228

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Leupp Jay P
		CENTRAL INDEX KEY:			0001799334
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36555
		FILM NUMBER:		25693443

	MAIL ADDRESS:	
		STREET 1:		16435 N. SCOTTSDALE ROAD
		STREET 2:		SUITE 320
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85254

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARA Holdings, Inc.
		CENTRAL INDEX KEY:			0001507605
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		IRS NUMBER:				010949984
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		101 NE THIRD AVENUE,
		STREET 2:		SUITE 1200
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301
		BUSINESS PHONE:		(800) 804-1690

	MAIL ADDRESS:	
		STREET 1:		101 NE THIRD AVENUE,
		STREET 2:		SUITE 1200
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARATHON DIGITAL HOLDINGS, INC.
		DATE OF NAME CHANGE:	20210315

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Marathon Patent Group, Inc.
		DATE OF NAME CHANGE:	20130222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	American Strategic Minerals Corp
		DATE OF NAME CHANGE:	20111213
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-02-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001507605</issuerCik>
        <issuerName>MARA Holdings, Inc.</issuerName>
        <issuerTradingSymbol>MARA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001799334</rptOwnerCik>
            <rptOwnerName>Leupp Jay P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MARA HOLDINGS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>101 NE THIRD AVENUE, SUITE 1200</rptOwnerStreet2>
            <rptOwnerCity>FORT LAUDERDALE</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-02-28</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>43103</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>178859</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Reflects a grant of restricted stock units (&quot;RSUs&quot;) made to the reporting person under the issuer's Amended and Restated 2018 Equity Incentive Plan. The RSUs will vest in full on January 31, 2026, subject to the reporting person's continued service to the issuer as of the vesting date. Each RSU represents a contingent right to receive one share of the issuer's common stock, par value $0.0001 per share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Zabi Nowaid, Attorney-in-Fact for Jay P Leupp</signatureName>
        <signatureDate>2025-02-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
