With the repayment of debts, 17,477 $BTC locked as collateral were released. The share of Bitcoins lent or used as collateral by MARA in its total reserves fell from 57 percent at the end of September to below 5 percent.
These sales represent a significant departure from the company’s “holding all Bitcoins ever produced” policy, announced in July 2024. MARA began selling a portion of newly mined Bitcoins in 2025 and allowed the use of its accumulated reserves in 2026. With these latest transactions, the total amount of Bitcoin sold throughout 2026 has exceeded 40,000 $BTC.
MARA plans to use the cash generated from Bitcoin sales for AI infrastructure, debt repayments, and potential share buybacks. The company’s board of directors has authorized share buybacks of up to $500 million.
The 35% drop in mining revenue to $164 million in the third quarter is seen as one of the key reasons for the strategy change. MARA is also preparing to acquire the Long Ridge natural gas plant and develop high-capacity AI data centers. Therefore, it can be expected that the company will make further sales of its Bitcoin holdings.
*This is not investment advice.
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