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.
Large-Scale Bitcoin Liquidations Boost Liquidity
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.
MARA’s sales strategy marks a shift from its former approach of holding mined coins to accumulate a larger Bitcoin treasury. In total, the company has now disclosed over 40,000 BTC sold through 2026 after this latest batch, generating more than $3 billion in liquidity for operational and strategic objectives.
MARA leadership described the accelerated Bitcoin sales as bolstering its balance sheet and offering the company greater financial flexibility to pursue new initiatives.
The company used the fresh liquidity to reduce total debt by $1.4 billion since the beginning of the year. After the latest transactions, less than 5% of its remaining Bitcoin holdings have been loaned or pledged.
Third-Quarter Results Reveal Contrasting Revenue and Profits
Despite the sharp revenue contraction, MARA reported a third-quarter net profit of $632.1 million, up from $123.1 million in the comparable period of 2025. This surge was driven by an $885.3 million fair-value gain on digital assets, rather than improved mining fundamentals.
Bitcoin production increased 5% year on year, with the company mining 2,247 BTC in the quarter. During the same period, energized hashrate grew 18% to reach 71.2 exahashes per second, reflecting ongoing investment in mining capacity.
Coinpaper previously highlighted the profitability pressures mining operators face as network difficulty rises and competition from AI-related use cases grows.
MARA remains focused on balancing asset management with operational expansion amid a challenging business environment for miners.
AI Strategy Gains Prominence Amid Market Challenges
MARA is moving to reposition its energy assets, placing greater emphasis on using its infrastructure for AI data centers rather than exclusively for cryptocurrency mining. The company has obtained development rights for a Texas property offering up to 2 gigawatts of potential capacity and plans to finalize its Long Ridge energy acquisition before the end of the year.
Executives continue to negotiate customer agreements designed to create steadier, recurring revenue streams from infrastructure services. Several projects currently remain under development as part of this strategic transition.
The accelerated push into AI and high-performance computing reflects a wider sector pivot as mining economics weaken. Industry mining stocks have recently experienced a 35% correction, underscoring the operational and financial challenges faced by companies like MARA and its peers, including Riot Platforms.
Investors who want to track ongoing changes in Bitcoin mining output, miner holdings, and shifting business strategies can utilize CryptoAppsy’s real-time market charts and custom price alerts to monitor relevant sector developments. These tools provide timely insight into market moves and allow users to respond quickly as companies like MARA adapt to new industry realities.
