On July 29, MARA Holdings declined 8.3% in regular trading, trading at $10.43/share, with turnover of $148 million. The stock continued its downward trajectory following a similar 8.33% drop the previous session.

On the news front, former advisor Francois Garcin, who previously helped build MARA's French business operations, filed a lawsuit on July 22 in the U.S. District Court for the Southern District of New York seeking over EUR 11 million in unpaid commissions. The claim includes EUR 2.4 million in advisory fees and approximately EUR 5.92 million in success commissions based on a 4% fee on Exaion's EUR 148 million investment. Garcin's prior engagements included recruiting former Engie CEO Gerard Mestrallet and arranging meetings with former French President Francois Hollande.

Adding to the pressure, multiple insiders including Director Thiel Frederick G conducted concentrated share sales between July 17-20 at prices ranging from $10.90 to $12.00. The company's Q1 net loss of $3.31 per share significantly missed the analyst consensus estimate of -$1.69, with revenue of $174.6 million falling below expectations. Peer crypto miner IREN fell 9.5% on the same day, reflecting broader sector weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)