MARA Sells 13,597 BTC for $1.1B
Bitcoin miner MARA Holdings sold 13,597 BTC for approximately $1.1 billion over six weeks and says further sales remain possible. The coins were sold at an average price of about $81,039 each. According to CoinDesk, MARA used $750 million of the proceeds to fully repay loans backed by its bitcoin holdings. Less than 5% of the company’s remaining bitcoin is now lent out or pledged as collateral, compared with 57% at the end of September. MARA says it may continue selling coins to fund artificial-intelligence infrastructure and strengthen its balance sheet as mining revenue declines. Large miner sales can influence market sentiment and add to concerns about selling pressure, although they do not determine Bitcoin’s price on their own. Track BTC rates and compare exchange options on xbit.money before making a transaction.