So the biggest public miner is now a seller.
MARA sold 13,597 $BTC in roughly six weeks after September, around $1.1B at an average near 81k. CoinDesk and The Block both pulled it from their Q3 shareholder letter.
That was about 40% of what they held at quarter end. Remember in 2024 they said they would keep every coin they mine, so this is a full reversal.
Most of the money went to paying off loans backed by their bitcoin, about $750M. And they say more sales could come to fund AI datacenters.
Why I care as a trader, miners were supposed to be the strong hands. If they keep feeding supply into a market where ETFs already had 3 outflow days, that's extra weight while BTC sits around 74.6k. CoinDesk has analysts pointing at 73k as the support that matters today with CPI out.
MARA sold 13,597 $BTC in roughly six weeks after September, around $1.1B at an average near 81k. CoinDesk and The Block both pulled it from their Q3 shareholder letter.
That was about 40% of what they held at quarter end. Remember in 2024 they said they would keep every coin they mine, so this is a full reversal.
Most of the money went to paying off loans backed by their bitcoin, about $750M. And they say more sales could come to fund AI datacenters.
Why I care as a trader, miners were supposed to be the strong hands. If they keep feeding supply into a market where ETFs already had 3 outflow days, that's extra weight while BTC sits around 74.6k. CoinDesk has analysts pointing at 73k as the support that matters today with CPI out.
