MARA Sold 13,597 Bitcoin Worth $1.1 Billion Over Six Weeks

Bitcoin miner MARA sold 13,597 Bitcoin (BTC) for about $1.1 billion during the six weeks after Sept. 30, using much of the proceeds to repay debt and preparing further sales to finance AI infrastructure.

The sales averaged about $81,039 per coin and equaled roughly 40% of MARA’s 34,012 BTC holdings at the end of the third quarter. The company disclosed the transactions in its third-quarter shareholder letter.

MARA used $750 million to repay a term loan backed by Bitcoin, an amount that accounts for most of the sale proceeds. The repayment also freed 17,477 BTC that had been pledged as collateral.

The company plans to keep raising cash from Bitcoin sales for AI infrastructure and convertible-note put options that become exercisable next year. It also listed possible share repurchases as a use for the funds. Those planned uses span infrastructure spending, note obligations and potential shareholder returns.

John Kim

John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].