MARA shares fall nearly 10% as bitcoin pulls back

MARA Holdings Inc. shares fell sharply Friday afternoon, pulling back after a recent rally, as selling pressure accelerated across the digital asset ecosystem.

MARA Holdings stock is under bearish pressure. What is dragging down MARA's share price?

Bitcoin selloff and macro concerns weigh on miners

The decline in MARA and other crypto-related stocks on Friday reflects broader weakness in bitcoin. Bitcoin is retreating from a recent 20% monthly gain, falling to around $77,000 on Friday afternoon, down about 3%.

Crypto assets are facing macroeconomic headwinds following remarks from Federal Reserve Chairman Kevin Warsh emphasizing persistent inflationary pressures, which reignited investor concerns over interest rates.

Selling pressure intensified as the U.S. dollar surged, linked to Treasury Secretary Scott Bessent's disclosure of foreign exchange reserve asset conversions involving the yen.

Capacity expansion fails to offset risk-off sentiment

Despite MARA's continued efforts to expand its digital infrastructure and mining fleet, the pullback occurred late in the week. In its latest operational update, MARA reported a hash rate of 54.2 EH/s and bitcoin holdings exceeding 50,000 BTC.

However, macro uncertainty and a stronger dollar continued to pressure the entire bitcoin mining sector on Friday afternoon.

MARA shares slide on Friday

MARA's share price movement: As of Friday's close, MARA Holdings shares were down 9.94% at $10.69.