MARA Sells 13,597 Bitcoin (BTC) for $1.1 Billion in Six Weeks

Inside the Six-Week Sell Program

MARA Holdings, the Bitcoin mining company and one of the largest corporate holders in the Bitcoin market, has sold 13,597 Bitcoin (BTC) for roughly $1.1 billion, according to the company's investor-relations disclosure published on Wednesday. The program ran across six weeks starting in late September, and the average exit price was $81,039 per coin. The Bitcoin (BTC) price now stands at $73,886, about 9% below that average, after a 0.6% drop over the past 24 hours. At the disclosure's average, the 13,597 coins grossed just over $1.1 billion, so each coin sold returned about $7,150 more than it would fetch at the current mark.

The coins sold represent roughly 40% of the 34,012 BTC the company held when September closed. Across the same window, MARA put about six times its third-quarter production back into the market. Roughly $750 million of the proceeds went to retiring Bitcoin-backed loans, a structure that lets a holder borrow against coins without selling them, with repayment releasing the collateral. That payoff unlocked 17,477 BTC from lock-up, and the share of the reserve that was lent or pledged fell from 57% at the end of September to under 5%. The disclosure does not break the sales down week by week, and the company says further sales remain possible.

A 2024 Hold Policy Unwound

The sell-down breaks from the pure HODL posture MARA announced in July 2024, when it committed to keeping every coin it produced and ran its treasury as a de facto strategic Bitcoin reserve. The stance loosened in stages: sales in 2025 covered only part of newly mined output, and 2026 went further, drawing on coins already accumulated. That 2026 authorization is what made a program of this size possible, because weekly production alone could not have covered six times a quarter's output. With the latest transactions counted, the company's realized sales this year have passed 40,000 Bitcoin (BTC), a total that now exceeds the 34,012 coins it held at the end of September. Even after that run-off, MARA remains a corporate crypto whale with north of 20,000 coins on its own books.

Management directs the cash toward AI infrastructure, debt service and possible buybacks, and the board has authorized up to $500 million in MARA stock repurchases. The pivot follows a weak quarter for the core business: mining revenue fell 35% in the third quarter, to $164 million, which means the six-week treasury sale was worth about 6.7 times the quarter's mining income. MARA is also preparing to acquire Long Ridge, a natural gas power plant, alongside a program of high-capacity AI data centers. That build-out is capital hungry, and the company's own disclosure says more sales from its Bitcoin holdings should be expected to fund it.

Our Bitcoin technical analysis composite puts the nearest support at $73,085, scored 93 out of 100, with the first meaningful resistance at $74,523, scored 83; price sits between the two, inside a downtrend reading with an RSI of 34.48. Positioning data shows funding at 0.0058% and a long/short account ratio of 3.17, so leveraged accounts still lean long while the tape grinds lower. Corporate supply such as this, alongside spot ETF outflows, keeps weight on the offer side. The measurement that closes the story is the gap itself: MARA exited at an average of $81,039, and the same coin now changes hands about $7,150 lower.