MARA dumped 23,093 $BTC for $1.6B in H1 2026 at ~$70.6K avg

Still sitting on 35,577 $BTC worth $2.3B

This isn't an exit. It's treasury optimization. They're playing the long game while managing cash flow for operations and expansion.

Miner capitulation? Not here. This is what smart liquidity management looks like when you're scaling infrastructure.