--- title: "Is Marathon Digital Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/marathon-digital-holdings-stock publisher: HalalWallet license: CC BY 4.0 verdict: not_halal verdict_label: Not Halal entity_type: stock ticker: MARA exchange: NASDAQ last_reviewed: 2026-06-14 data_as_of: 2026-03-31 authorities_with_position: 2 authority_agreement: unanimous --- # Is Marathon Digital Stock Halal? **Authority consensus:** All 2 halal screening authorities with a published position rate Marathon Digital Holdings, Inc. not halal. **Verdict: Not Halal** (Not permissible) Marathon Digital Holdings, Inc. (MARA) does not pass Shariah screening: its core business fails the activity screen (Bitcoin/crypto mining — scholars and screeners widely treat cryptocurrency mining as impermissible or highly disputed (c), and interest-bearing debt / market cap is 45.1% against the < 30% limit (data as of 2026-03-31), and impermissible income / total revenue is 6.2% against the < 5% limit (data as of 2026-03-31). Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below. > HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide. ## How we read the evidence Bitcoin/crypto mining — scholars and screeners widely treat cryptocurrency mining as impermissible or highly disputed (cf. our MSTR/COIN verdicts). We classify miners as not halal on business-activity grounds pending a clear permissibility consensus. Our verdict rests primarily on the business-activity screen: Bitcoin/crypto mining — scholars and screeners widely treat cryptocurrency mining as impermissible or highly disputed (cf. our MSTR/COIN verdicts). We classify miners as not halal on business-activity grounds pending a clear permissibility consensus. Financial ratios alone cannot cure a failed activity screen. Zoya's public page did not return a clear status when we checked (checked 2026-06-15). Musaffa lists it NOT HALAL. U.S. Shariah ETFs SPUS and HLAL publish holdings on their own schedules — absence from a top-holdings list is not the same as a failed screen; verify current ETF holdings if index validation matters to you. Practical takeaway: do not treat this as a borderline hold — the fail is structural on our methodology. Use Shariah-screened ETFs (SPUS, HLAL) or individually screened peers in the same sector instead. ## Business activity screen Result: Fail Marathon Digital Holdings, Inc. is a technology firm specializing in digital assets. Its core business involves mining cryptocurrencies, with a strategic focus on developing the blockchain ecosystem and generating new digital assets primarily within the United States. By the close of 2021, the company held roughly 8,115 bitcoins, 4,794 of which were managed within an investment fund. Founded in 2010, the company, headquartered in Las Vegas, Nevada, adopted its current name in February 2021, havi Bitcoin/crypto mining — scholars and screeners widely treat cryptocurrency mining as impermissible or highly disputed (cf. our MSTR/COIN verdicts). We classify miners as not halal on business-activity grounds pending a clear permissibility consensus. ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 45.1% | < 30% | Fail | | Cash + interest-bearing securities / market cap | 9.8% | < 30% | Pass | | Impermissible income / total revenue | 6.2% | < 5% | Fail | Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology ## Scholars' and screeners' positions - **Musaffa**: Public page classifies the stock NOT HALAL (checked 2026-06-15). ([source](https://musaffa.com/stock/MARA/)) - **HalalWallet AAOIFI screen**: Rates Marathon Digital Holdings, Inc. (MARA) non-compliant: it fails the business-activity screen — its core operations fall in a sector AAOIFI screening treats as non-compliant (see the activity description and analysis on this page). ([source](/halal-stock-screening-methodology)) ## Sources - MARA latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Marathon%20Digital%20Holdings%2C%20Inc.&type=10-Q) - AAOIFI Shariah Standards (https://aaoifi.com) - Marathon Digital Holdings, Inc. SEC EDGAR filings (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Marathon%20Digital%20Holdings%2C%20Inc.&type=10-K) - Zoya — MARA Shariah compliance (https://zoya.finance/stocks/mara) - Musaffa — MARA (https://musaffa.com/stock/MARA/) - SPUS Schedule of Investments reference (2026-02-28) (https://www.sec.gov/Archives/edgar/data/1742912/000200032426001717/spus-soi_022826.htm) - HLAL holdings reference (2026-06-05) (https://stockanalysis.com/etf/hlal/holdings/) ## Frequently asked questions ### Is Marathon Digital Holdings, Inc. (MARA) stock halal? No. Marathon Digital Holdings, Inc. fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons. ### Does Marathon Digital Holdings, Inc. pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 45.1% of market cap (limit < 30%); cash plus interest-bearing securities is 9.8% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Marathon Digital Holdings, Inc. held in halal ETFs like SPUS or HLAL? Check the scholar/screener positions and sources on this page for current SPUS, HLAL, Zoya, and Musaffa statuses. ## Related verdicts - [Is Palantir Technologies Stock Halal?](https://www.halalwallet.ca/is-it-halal/palantir-technologies-stock.md) — Not Halal - [Is Super Micro Computer Stock Halal?](https://www.halalwallet.ca/is-it-halal/super-micro-computer-stock.md) — Not Halal - [Is Affirm Stock Halal?](https://www.halalwallet.ca/is-it-halal/affirm-holdings-stock.md) — Not Halal - [Is Airbnb Stock Halal?](https://www.halalwallet.ca/is-it-halal/airbnb-stock.md) — Not Halal - [Is Alibaba Stock Halal?](https://www.halalwallet.ca/is-it-halal/alibaba-group-holding-limited-stock.md) — Not Halal - [Is Altria Stock Halal?](https://www.halalwallet.ca/is-it-halal/altria-group-stock.md) — Not Halal --- Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30). - Full canonical answer feed (JSON): https://www.halalwallet.ca/api/llm-feed.json - Site guide for AI systems: https://www.halalwallet.ca/llms.txt - Markdown mirror directory: https://www.halalwallet.ca/index.md