MARA sold 13,597 $BTC after quarter-end. Where did the cash go? ⛏️
From MARA's Q3 shareholder letter (9 Nov):
~$1.1B of sale proceeds
$750M of debt repaid
17,477 BTC of collateral released

Sell some BTC, pay down debt, free up more BTC.

Public companies have sold 108,247 BTC in 2026 (Lookonchain). Not all of it is the same kind of selling.

Deleveraging: bearish or housekeeping? 👇

#BTC #Bitcoin #Mining