MARA Holdings’ 2026 proxy filing disclosed $4.3 million in total personal security spending for CEO Fred Thiel in 2025, including $430,000 for vehicle armoring. Existing disclosures on the topic also show the company reported $3.946 million in personal security costs for CFO Salman Khan and $438,000 for armoring his vehicle. MARA previously said the spending was tied to elevated security risks associated with executives’ publicly disclosed Bitcoin holdings, and the costs were included within executive compensation reporting.