MARA offloads 13,597 bitcoin and clears its bitcoin-backed debt
The miner raised about $1.1 billion and put $750 million of it toward term loans, leaving under 5% of its coins pledged.
Key takeaways
- MARA Holdings sold 13,597 bitcoin for about $1.1 billion, at roughly $81,039 per coin.
- It used $750 million of the proceeds to repay all of its bitcoin-backed term loans.
- The sale removed close to 40% of the 34,012 bitcoin MARA held on 30 September 2026.
- MARA said it will keep using bitcoin to raise cash for AI infrastructure and note obligations.
- The board also approved a buyback of up to $500 million of common stock.
Sale and repayment
MARA Holdings has sold 13,597 bitcoin for about $1.1 billion, according to its third-quarter shareholder letter. The coins went for roughly $81,039 each, and the disposal came after the quarter closed. Of the cash raised, $750 million repaid in full the term loans the miner had secured against its own bitcoin.
The company held 34,012 bitcoin on 30 September 2026, so the sale took out close to 40% of that treasury within a few weeks. Clearing the loans released 17,477 bitcoin that had been posted as collateral. Less than 5% of MARA's coins are now lent out or committed as security, the letter said. Bitcoin Magazine described the holding as one of the largest built up by a public company.
What the cash is for
More sales are coming, according to the letter. “We intend to continue using bitcoin to build cash for purposes such as AI infrastructure opportunities,” MARA wrote. The company named three uses for the money: building data centres for artificial intelligence, meeting puts on its convertible notes that become exercisable next year, and possible share repurchases. A put gives a noteholder the right to demand repayment on a set date.
After the quarter ended, the board authorised a repurchase programme of up to $500 million of common stock.
The balance is still open
MARA has not published a figure for the bitcoin it holds now. Deducting the 13,597 coins from the 30 September total leaves about 20,400 before any coins mined since, a calculation Bitcoin Magazine made. The company did not say how much more it might sell, or on what timetable.
CoinDesk also reported the sale and MARA's intention to keep selling. Both outlets drew their accounts from the shareholder letter.
Sources
2 reports used for this story:
- CoinDesk — Bitcoin miner MARA sold 13,597 BTC for $1.1 billion in six weeks, plans to sell more
- Bitcoin Magazine — MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming
This article was prepared by BattleTown Newsroom from the reports listed above.
Frequently asked questions
How much bitcoin did MARA sell?
The company sold 13,597 bitcoin for about $1.1 billion, at roughly $81,039 per coin, according to its third-quarter shareholder letter.
Does MARA plan to sell more bitcoin?
Yes. The letter says the company intends to keep using bitcoin to build cash for AI infrastructure, puts on convertible notes exercisable next year, and possible share repurchases. It did not give an amount or a schedule.
bitcoinThis story is for information only. It is not financial, investment or legal advice. Disclaimer
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