MARA sells 13,597 BTC for $1.1 billion, shifts focus to AI infrastructure

Bitcoin mining firm MARA Holdings has sold 13,597 BTC for around $1.1 billion, taking another significant step away from its longstanding accumulation strategy as it expands deeper into artificial intelligence infrastructure. In its latest shareholder letter dated November 9, MARA reported it completed the sales following September 30, securing an average price of approximately $81,039 per Bitcoin. The company allocated $750 million from the proceeds toward repayment of Bitcoin-backed loans, which allowed it to recover 17,477 BTC previously committed as collateral. This move comes after a turbulent quarter for the mining sector. MARA’s revenue for the quarter fell 35%, dropping to $164.2 million, despite an uptick in Bitcoin production. Management cited subdued digital asset prices as a key driver of the decline from last year’s $252.4 million figure.

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