CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming

Bitcoin Magazine logo

Published on

Add as a preferred source on Google
MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming

Bitcoin Magazine

MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming

MARA Holdings sold 13,597 bitcoin for about $1.1 billion after the third quarter ended and used $750 million of the cash to pay off all of its bitcoin-backed term loans, the miner said Monday in its Q3 shareholder letter.

The coins went for roughly $81,039 each. MARA held 34,012 BTC on Sept. 30, so the sale cut about 40% of the stack in a matter of weeks.

Repaying the loans returned 17,477 bitcoin that had been pledged as collateral, leaving less than 5% of MARA’s holdings loaned or pledged, the company said. Subtracting the sale from the quarter-end figure implies about 20,400 BTC left, before counting coins mined since.

The letter makes clear the selling is not over. “We intend to continue using bitcoin to build cash for purposes such as AI infrastructure opportunities, to satisfy the puts on our convertible notes that become exercisable next year, and potential share repurchases,” MARA wrote.

The board also authorized a buyback of up to $500 million of common stock after quarter-end.

MARA spent years building one of the largest bitcoin stacks among public companies. The shift away from holding came in stages. The company said it began permitting sales of mined bitcoin in 2025 and in 2026 expanded the policy to cover bitcoin already on its balance sheet.

9 billion in the first nine months of the year, including 3,891 BTC in the third quarter at an average of $75,300.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.