In the cryptocurrency mining sector, Marathon Digital has made a significant transaction by transferring 1,318 BTC valued at approximately $86.9 million within a span of 10 hours. This move aligns with a recent period during which Bitcoin’s price fell to around $64,000, catching considerable attention in the market.
Transfer Details
Marathon Digital is recognized as a major Bitcoin producer, particularly within the United States. According to the available information, the company transferred 653.7 BTC to Two Prime, a financial services provider, around 300 BTC to BitGo, a digital asset custody service, and 305 BTC to a new wallet address. Two main transfers were conducted, with smaller amounts also sent to Two Prime.
The specifics of these asset transfers reveal that the initial transaction to Two Prime reached a value of $42.01 million, followed by another transfer of approximately $579,000 shortly afterwards. Transfers made to a BitGo-associated wallet were valued at about $20.4 million.
Marathon Digital’s consecutive transfers, occurring after Bitcoin’s price drop, have attracted significant attention in the industry.
Challenges for Bitcoin Miners
Recently, Bitcoin has experienced a sharp decline, hitting its lowest levels since October 2024. With the price dropping to the $63,000 range, profitability for miners has significantly decreased.
Mining revenue in the Bitcoin network has substantially fallen, and the hash price index has declined to around 3 cents per terahash. Research predicts a mining difficulty decrease exceeding 13% in the coming days, marking one of the largest drops since China’s mining ban in 2021.
Following market developments, shares of leading Bitcoin miners have also significantly declined. Marathon Digital’s shares fell over 18%, while CleanSpark Inc and Riot Platforms Inc experienced drops exceeding 19% and 14%, respectively.
Economic Factors and Share Performance
Marathon Digital shares have plummeted more than 30% over the past five days and nearly 34% over the past month. Factors influencing this decline include not only fluctuations in Bitcoin prices but also the company’s share activities. On January 30, 2026, 14,301 shares held by senior executives were maintained at $9.50 to cover taxes on stock-based compensation.
Experts close to the company indicate that besides the market downturn, increased energy costs due to winter storms across the U.S. and power outages in certain states also exert pressure on mining operations.
Particularly, short-term power outages in Texas and Tennessee, regions centralized for energy-intensive mining activities, have significantly impacted company revenues. For Marathon Digital and similar miners, challenges have intensified recently with a combination of both industry-specific and external economic factors.
