The MARA Bitcoin sale brought in about $1.1 billion after Sept. 30, with MARA Holdings using $750 million to repay all its bitcoin-backed term loans, the company said in its third-quarter shareholder letter released Monday.

MARA sold 13,597 BTCâ–Ľ$72,867.00 at an average of about $81,039 each, equivalent to roughly 40% of the 34,012 BTC it held at the end of September. The company also said it intends to keep selling bitcoin to raise cash for AI infrastructure, convertible-note obligations and potential share repurchases.

MARA sold 13,597 BTC for about $1.1 billion after quarter-end

The sale took place in the weeks after Sept. 30. The amount sold was about 40% of MARA’s quarter-end bitcoin holdings, a sharp change for a miner that had built one of the largest bitcoin treasuries among public companies.

After repaying its loans, MARA released 17,477 BTC that had been pledged as collateral. Less than 5% of its remaining holdings are now lent out or pledged, down from 57% at September’s end, according to CoinDesk.

MARA directed $750 million to repay bitcoin-backed loans

The repayment cleared all of MARA’s bitcoin-backed term loans. The company had taken out the borrowing in August to help fund its planned purchase of the Long Ridge natural-gas power business, which it expects to close in the coming weeks.

MARA said it had reduced total debt by $1.4 billion, or 37%, year to date. At the end of September, it reported $946.5 million in cash and about $3.8 billion in cash and bitcoin combined.

Future MARA bitcoin sales could fund AI projects and buybacks

MARA’s shareholder letter says the company intends to keep using bitcoin to build cash for AI infrastructure opportunities, payments tied to convertible notes and possible share repurchases. Some noteholders can exercise puts next year, giving them the option to demand early repayment.

The board authorized a buyback of up to $500 million in common stock after quarter-end. The authorization sets a maximum, not a required purchase amount. MARA is also targeting two data-center leases before year-end, though the company warned that timing could slip into next year.

The company has expanded its bitcoin-selling policy in stages. It began allowing sales of newly mined coins in 2025, then widened the policy in 2026 to include bitcoin already held on its balance sheet. MARA sold 26,984 BTC in the first nine months of 2026, including 3,891 BTC in the third quarter at an average of $75,300; it mined 2,247 BTC that quarter and bought none, per Bitcoin Magazine.

Falling mining revenue adds pressure to MARA’s infrastructure shift

MARA’s third-quarter revenue fell 35% year over year to $164.2 million, while its energized hashrate rose 18% to 71.2 EH/s. Net income reached $632.1 million, including an $885.3 million gain on the fair value of digital assets.

The company is building out its power and data-center plans alongside its mining business. It received FERC approval for its Long Ridge purchase, a power plant authorized to sell 485 megawatts, and holds development rights to a Texas site with potential capacity of up to 2 gigawatts. Its Exaion unit also signed a four-year, $79 million GPU-as-a-service contract with its first U.S. customer, per BeInCrypto.

FAQ

When did MARA sell the 13,597 bitcoin?

The sale occurred after the third quarter ended on Sept. 30, 2026. MARA disclosed it in its Q3 shareholder letter released Monday.

How much did MARA receive per bitcoin on average?

MARA sold the coins for an average of about $81,039 each. The sale raised about $1.1 billion in total.

How much of the sale proceeds went to repay loans?

MARA used $750 million to repay all of its bitcoin-backed term loans. That repayment released 17,477 BTC previously pledged as collateral.

What will MARA use cash from future bitcoin sales for?

The company named AI infrastructure, convertible-note puts exercisable next year and potential share repurchases. Its board authorized up to $500 million for common-stock buybacks.

How much bitcoin had MARA held at the end of September?

MARA held 34,012 BTC on Sept. 30. The later sale of 13,597 BTC represented roughly 40% of that quarter-end total.

This article is for information only and is not financial advice.

Related Articles

Will Crypto Market Recover by End of 2026? 5 Factors That Could Decide Crypto’s Future

The article examines the probability of a crypto market recover by the end of 2026. While a general...

Bitcoin Miner Hut 8 Reaches $2.3M Settlement in Securities Case

Bitcoin miner Hut 8’s proposed $2.35 million settlement would end a securities case narrowed to...

Bitcoin on April 27: BTC Price Holds Near $79K as Sentiment Turns Cautious

BTCâ–Ľ$72,867.00 price is consolidating around $79,000, with weekly spot ETF flows staying at the...

Institutional Traders Gain Bigger Role in Bitcoin Price Discovery as OTC Share Hits 72%

Institutional investors dominate the market, changing how Bitcoin price discovery...

Tether Hit With $2.76M Lawsuit as Conduit Challenges Year-Long USDT Freeze

Cross-border payments firm Conduit Technology has sued cryptocurrency company Tether in an attempt...

Circle Cuts 5% of Staff Despite $226M in Q3 Net Income

Circle layoffs affected 5% of staff in Q3 despite $226 million in net income; a $182 million ARC...