Is MARA (Marathon Digital Holdings, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, MARA is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 2 of 4 compliance screens. Marathon Digital Holdings, Inc.'s core business activity was found to be non-compliant. Its debt-to-market-cap ratio of 75.53% exceeds the ≤33% threshold.

Marathon Digital Holdings is a major player in the digital asset space, specifically focused on mining Bitcoin within the United States. Unlike traditional tech companies, Marathon operates its own data centers to solve complex algorithms, securing the blockchain ecosystem and earning Bitcoin as a reward. As of late 2021, the company held a substantial treasury of over 8,000 bitcoins, positioning itself essentially as a leveraged play on the price of Bitcoin itself. For Muslim investors using HalalStocks.co .uk, Marathon Digital is currently flagged as Not Halal (Haram). While it passed the screens for interest income and cash holdings, it failed the crucial debt-to-market cap ratio. This means the company carries too much debt relative to its market value according to AAOIFI standards, making it ineligible for investment despite the potential permissibility of crypto mining itself. From a financial perspective, the primary concern is the company's leverage, with debt sitting at 75.5% of its market capitalization—more than double the permissible threshold of 33%. While the company 's interest income is low at 2.55%, indicating its revenue is mostly derived from mining rather than lending , the heavy debt burden suggests the company is financing its expensive mining rigs and operations through significant borrowing. Investors should note that the 'Financial - Capital Markets' industry classification automatically triggers a business activity failure in some automated screens, though many scholars view mining as distinct from conventional banking. However, until Marathon significantly reduces its debt load or its market capitalization increases enough to lower the ratio below 33%, the stock remains off-limits for strict shariah-compliant portfolios. Marathon Digital Holdings, Inc. operates in the Financial Services sector under the Financial - Capital Markets industry and is headquartered in Las Vegas, NV, US. The company is led by CEO Frederick G. Thiel and employs approximately 171 people.

MARA was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. MARA passed 2 of these 4 screens.

MARA was last screened on 2026-02-25. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.