On July 28, MARA Holdings fell 8.33% in regular trading, trading at $10.86/share, with turnover of approximately $104 million.

On the news front, former French business advisor François Garcin filed a lawsuit on July 22 in the U.S. District Court for the Southern District of New York, claiming over €11 million in unpaid commissions. The claim includes €2.4 million in consulting fees and approximately €5.92 million in success-based commissions tied to a 4% share of Exaion's €148 million investment. Garcin had previously assisted in building MARA's French operations, including recruiting former Engie CEO Gérard Mestrallet and securing an invitation to the Choose France summit.

Adding to the pressure, the company disclosed concentrated insider selling between July 17-20, with Director Thiel Frederick G and multiple executives offloading shares at prices between $10.90 and $12.00. The broader crypto mining sector also declined, with peer IREN falling 9.51% on the same day.

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