MARA Sells $1.1B in Bitcoin, Pays Off $750M in Loans

MARA’s bitcoin sale equals 40% of quarter-end holdings

The 13,597 BTC sold equals roughly 40% of the 34,012 BTC held at Sept. 30, based on Daily Crypto Briefs’ calculation. It also exceeds six times the 2,247 BTC mined during the entire third quarter.

Those comparisons show the scale of the disposal against the treasury and production. Subtracting the sale alone from September’s balance would leave 20,415 BTC, but that calculation excludes subsequent mining and other activity. It cannot establish MARA’s current holdings.

The company had already sold approximately 26,984 BTC during the first nine months of 2026. Adding the newly disclosed sales brings the year’s disclosed total to approximately 40,581 BTC. The filing did not identify individual execution dates or trading venues. MARA third-quarter Form 10-Q

The policy has changed substantially since July 2024, when MARA bought $100 million in bitcoin and committed to retaining all coins it mined. At the time, Chief Executive Fred Thiel described the approach as an expression of confidence in bitcoin’s long-term value. MARA’s 2024 treasury announcement

MARA subsequently allowed sales of newly mined coins in 2025 and expanded the policy to accumulated holdings in 2026. This week’s disclosure shows how extensively the company has used that flexibility.

Loan repayment releases 17,477 pledged BTC

Repaying the $750 million borrowing released 17,477 BTC pledged against those loans. MARA said less than 5% of its remaining bitcoin was loaned or pledged after repayment, compared with approximately 57% at September’s end.

Selling collateral-backed assets and releasing collateral affect the balance sheet in different ways. The sale reduces the number of coins owned. Repayment removes the associated borrowing and returns control of pledged coins to the company. Released collateral is therefore separate from newly mined or purchased bitcoin.

The transaction also reduces the amount of financing tied to bitcoin’s market value. MARA retains exposure to price changes through the coins it continues to own.

That financing decision comes as miners face large spending requirements to develop data centers. Daily Crypto Briefs previously covered the sector’s AI infrastructure funding gap, including the challenge of turning planned capacity into completed facilities and customer revenue.

AI projects compete for MARA’s cash

MARA’s planned Long Ridge acquisition illustrates the scale of that buildout. Its April agreement valued the power business at approximately $1.5 billion, including assumed indebtedness. The assets include a gas-fired power plant in Ohio and more than 1,600 acres supporting potential data-center development. MARA acquisition filing

The company also secured the Texas site with potential 2 GW capacity covered in July. Owning development rights and delivering income-producing facilities require different stages of financing and execution.

Third-quarter revenue fell 35% to $164.2 million. MARA reported net income of $632.1 million, including an $885.3 million fair-value gain on digital assets. Changes in bitcoin’s accounting value can therefore move reported earnings substantially even when revenue falls.

The broader Crypto Fear & Greed Index stood at 32 on Tuesday, up from 29 on Monday and still in the Fear range. Alternative.me sentiment index

MARA is targeting two data-center leases before year-end, while acknowledging that timing could slip into 2027. It gave no fixed volume or timetable for further bitcoin sales. Signed leases, the Long Ridge closing and subsequent treasury disclosures will show how much cash its infrastructure plans require.