MARA just sold 13,597 BTC and most people scrolled right past it.
Per CoinDesk, the miner disclosed the sale with its Q3 results. It happened after the quarter closed at an average of 81,039 dollars per coin and raised roughly 1.1B dollars. About 750M of that went to fully repay bitcoin backed loans. Their stack went from 34,012 BTC at quarter end to 20,415.
That puts MARA at 40,581 BTC sold this year, around 3B dollars, as they deleverage and shift capital into data centers.
On the other side, Strategy picked up 1,036 BTC last week at an average of 79,012 dollars. Meanwhile spot BTC ETFs bled 1.28B dollars in net outflows last week, the biggest weekly exit since late June.
BTC is sitting near 75K on Binance as I write this, so both of those buys are underwater for now.
Miners selling, ETFs selling, one big buyer still stacking. Who blinks first here?
$BTC #Bitcoin #CryptoNews #MARA #BTCMiners
Per CoinDesk, the miner disclosed the sale with its Q3 results. It happened after the quarter closed at an average of 81,039 dollars per coin and raised roughly 1.1B dollars. About 750M of that went to fully repay bitcoin backed loans. Their stack went from 34,012 BTC at quarter end to 20,415.
That puts MARA at 40,581 BTC sold this year, around 3B dollars, as they deleverage and shift capital into data centers.
On the other side, Strategy picked up 1,036 BTC last week at an average of 79,012 dollars. Meanwhile spot BTC ETFs bled 1.28B dollars in net outflows last week, the biggest weekly exit since late June.
BTC is sitting near 75K on Binance as I write this, so both of those buys are underwater for now.
Miners selling, ETFs selling, one big buyer still stacking. Who blinks first here?
$BTC #Bitcoin #CryptoNews #MARA #BTCMiners
