~$1.1 Billion Cashed Out: MARA Sells 13,597 Bitcoin

Odaily reports that Bitcoin News posted on X that MARA has sold 13,597 Bitcoin since late September last year, cashing out approximately $1.1 billion, representing about 40% of the 34,000 Bitcoin it held at the time. Its 10-Q filing shows that $750 million of the proceeds were used to repay Bitcoin-collateralized loans from Coinbase Credit and Two Prime, releasing 17,477 Bitcoin in collateral. During the quarter, MARA's revenue fell 35% to $164.2 million, and the average price of the Bitcoin it mined dropped 37% to $71,700. MARA plans to continue selling Bitcoin to fund AI data centers.