MARA Offloads 34% of Its BTC Holdings in Half a Year! Will a Miner Surrender Wave Be Coming?
In the first half of the year, MARA slashed its BTC holdings by a wild 34%, dropping to below 36,000 BTC. Top-tier mining firms have turned from diamond-hand holders into dump-driving players.
Guys, MARA (formerly Marathon Digital) just released its interim performance report. Honestly, this data makes me frown. This company used to be one of the biggest BTC die-hard hodlers in crypto—shouting slogans loud and clear. But in less than half a year, it has cut the BTC it holds by 34%, and its holdings are now directly below 36,000 BTC.
To put it plainly, it’s not that they don’t want to hold. They genuinely can’t take it anymore. Mining costs are staying high, and after the mining reward halving, output shrank immediately. Electricity bills, operating expenses—everything still must be paid, not a cent less. The company can’t just hoard coins and not eat, right? So MARA’s strategy has shifted straight from “HODL” to “sell for survival.” It has started selling BTC for cash to maintain operations and keep financial balance. From die-hard fan to pragmatist—that’s the reality of being beaten by the market.
Impact on the market
This affects the market in two layers:
Short-term impact is very direct—selling pressure. Mining companies of MARA’s size begin distributing continuously, which is like supplying BTC’s market with endless ammo for a dump. BTC is currently quoted at $64,212.23 and is down 1.00% over the past 24 hours; ETH is also suffering at $1,896.52, down 0.77%. Once a collective trend of miners liquidating forms consensus, the liquidity situation in the short term will stay under pressure.
The medium-term impact is deeper—this signals a shift in the entire mining landscape. If even an industry leader like MARA can’t hold on and starts selling BTC, it shows that miners’ survival environment has deteriorated rapidly. Miners used to be a natural net long for BTC, but now they’re becoming an uncertain supply source. The industry will accelerate its reshuffle; smaller miners may be weeded out altogether, and the concentration of hashrate will increase further.
My take
My view is clear: bearish in the short term—don’t rush to bottom-fish.
MARA’s de-risking isn’t an isolated case; it’s an industry signal. When one of the biggest hodlers starts cutting losses, it means their internal outlook on the future isn’t optimistic. At the $64,212.23 level, there’s a mountain of trapped-position sell pressure above, while support below isn’t solid. If miners’ selling pressure continues, it’s highly likely that within the next 12 hours price will probe lower to test support.
In terms of action, this is not the time to catch a falling knife. Wait until the selling pressure has been digested and the bottom structure becomes clear before entering. For those with heavy positions, it’s recommended to reduce exposure defensively—cash is king.
- Asset: BTC / ETH
- Direction: Bearish 📉 Predicting a fall
- Duration: BTC 12 hours / ETH 24 hours
❓ If you agree that miners’ selling pressure will keep going, give a like and let me see how many people
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After something similar like “Spanish research institution will sell the Bitcoin bought for $100,000 in 2012” (2025-11-06) was released, BTC’s 12h price change was -1.69%; bearish prediction ✅ correct
- There were 136 news items of the bearish BTC category. In 64 cases, the predicted direction matched the actual move (accuracy 47%)
# Institutional moves
⚠️ Not investment advice
In the first half of the year, MARA slashed its BTC holdings by a wild 34%, dropping to below 36,000 BTC. Top-tier mining firms have turned from diamond-hand holders into dump-driving players.
Guys, MARA (formerly Marathon Digital) just released its interim performance report. Honestly, this data makes me frown. This company used to be one of the biggest BTC die-hard hodlers in crypto—shouting slogans loud and clear. But in less than half a year, it has cut the BTC it holds by 34%, and its holdings are now directly below 36,000 BTC.
To put it plainly, it’s not that they don’t want to hold. They genuinely can’t take it anymore. Mining costs are staying high, and after the mining reward halving, output shrank immediately. Electricity bills, operating expenses—everything still must be paid, not a cent less. The company can’t just hoard coins and not eat, right? So MARA’s strategy has shifted straight from “HODL” to “sell for survival.” It has started selling BTC for cash to maintain operations and keep financial balance. From die-hard fan to pragmatist—that’s the reality of being beaten by the market.
Impact on the market
This affects the market in two layers:
Short-term impact is very direct—selling pressure. Mining companies of MARA’s size begin distributing continuously, which is like supplying BTC’s market with endless ammo for a dump. BTC is currently quoted at $64,212.23 and is down 1.00% over the past 24 hours; ETH is also suffering at $1,896.52, down 0.77%. Once a collective trend of miners liquidating forms consensus, the liquidity situation in the short term will stay under pressure.
The medium-term impact is deeper—this signals a shift in the entire mining landscape. If even an industry leader like MARA can’t hold on and starts selling BTC, it shows that miners’ survival environment has deteriorated rapidly. Miners used to be a natural net long for BTC, but now they’re becoming an uncertain supply source. The industry will accelerate its reshuffle; smaller miners may be weeded out altogether, and the concentration of hashrate will increase further.
My take
My view is clear: bearish in the short term—don’t rush to bottom-fish.
MARA’s de-risking isn’t an isolated case; it’s an industry signal. When one of the biggest hodlers starts cutting losses, it means their internal outlook on the future isn’t optimistic. At the $64,212.23 level, there’s a mountain of trapped-position sell pressure above, while support below isn’t solid. If miners’ selling pressure continues, it’s highly likely that within the next 12 hours price will probe lower to test support.
In terms of action, this is not the time to catch a falling knife. Wait until the selling pressure has been digested and the bottom structure becomes clear before entering. For those with heavy positions, it’s recommended to reduce exposure defensively—cash is king.
- Asset: BTC / ETH
- Direction: Bearish 📉 Predicting a fall
- Duration: BTC 12 hours / ETH 24 hours
❓ If you agree that miners’ selling pressure will keep going, give a like and let me see how many people
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After something similar like “Spanish research institution will sell the Bitcoin bought for $100,000 in 2012” (2025-11-06) was released, BTC’s 12h price change was -1.69%; bearish prediction ✅ correct
- There were 136 news items of the bearish BTC category. In 64 cases, the predicted direction matched the actual move (accuracy 47%)
# Institutional moves
⚠️ Not investment advice