MARA Holdings (NASDAQ: MARA) sold 13,597 bitcoin for about $1.1bn in six weeks and plans to sell more, MARA said in its filing, as reported by CoinDesk. The Florida-based bitcoin miner is pivoting towards AI and high-performance computing data centres.
The shares were at $7.285 in a delayed quote at about 3.47pm in New York on Tuesday, before the close, up 9.71% from Monday’s $6.64 close. The 52-week range is $5.69 to $16.43, with the low set on Thursday. Bitcoin slipped to $74,729 from $75,223 over the same day.
MARA reported third-quarter results after the US close on Monday. The proceeds repaid all of the company’s bitcoin-backed loans, which are borrowings secured against bitcoin held as collateral. MARA plans further bitcoin sales from its treasury, the bitcoin a company keeps on its balance sheet.
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MARA said it intends to continue using bitcoin to build cash for purposes such as AI infrastructure opportunities.
Sales began with newly mined coins in 2025 and widened to the treasury in 2026. Sales reached 26,984 BTC in the first nine months, taking the year above 40,000 BTC. MARA held 34,012 BTC at the end of the third quarter, against 53,822 at the end of 2025.
The board has also authorised share buybacks of up to $500m, and some bondholders can demand early repayment from next year. The buyback and debt paydown may have helped the jump, though the shares also rebounded from a sharp fall. Third-quarter revenue was $164.2m, down 35% from $252.4m a year earlier.
The rebound follows a long slide. MARA is down 23.8% over three months while bitcoin is up 16.9%. The shares closed Thursday at $5.88 after touching a 52-week low of $5.69, a day after US regulator FERC approved MARA’s roughly $1.51bn purchase of the Long Ridge gas power plant in Ohio.
MARA has no signed AI lease yet. The test is whether it signs the two data-centre leases it is targeting before year-end, which it says could slip into 2027.
