Bitcoin mining behemoth MARA Holdings has again raised concerns over possible selling pressure on Bitcoin after it transferred around $133 million worth of BTC to multiple institutional crypto platforms.
According to data from blockchain analytics firm Lookonchain, MARA moved a total of 1,650 BTC (around $132.8 million) to platforms like Galaxy Digital, Copper, and others in the past 12 hours.
The latest transactions, which were first reported on Nov. 5, came a few weeks after a series of massive Bitcoin movements involving the publicly listed mining company.
It seems MARA is once again dumping Bitcoin, referencing recent transfers of massive amounts of BTC to trading platforms and custodians.
Nevertheless, it is possible that the transfers do not actually indicate that MARA has sold BTC.
It's worth noting that platforms like Galaxy Digital and Copper offer different services, including trading and custody, for institutional clients.
So it could be that MARA moved the assets for liquidity, collateral, or other purposes.
Recent Bitcoin transfers from MARA
It's worth mentioning that the latest BTC movements come after a few similar transactions involving MARA throughout October.
On Oct. 9, MARA moved around 996 BTC ($81.13 million at that time) to a wallet linked to crypto platform Galaxy Digital.
The transaction prompted some speculation about possible BTC selling, though it didn't confirm whether Galaxy Digital actually liquidated the assets or not.
On Oct. 19, Lookonchain again identified some other transactions involving wallets linked to the Bitcoin miner.
As per the analytics firm's data, the wallets linked to the Bitcoin miner sent 1,000 BTC (approximately $82.8 million) to crypto exchanges like Binance.
Towards the end of October, concerns over possible selling increased.
Specifically, on Oct. 27, MARA moved another 1,000 BTC (around $80.19 million) to institutional crypto custody platform BitGo.
The following day, Lookonchain noted another transaction of 1,000 BTC, worth about $80.66 million, to BitGo.
As per its second-quarter financial disclosure, MARA sold around 23,093 BTC for $1.6 billion in the first half of 2026.
In the second quarter alone, MARA sold 2,213 BTC at an average price of $73,078.
Meanwhile, MARA has also made it clear that it is no longer interested in holding all the Bitcoin it mines.
