Today's Crypto Divination | Today's Hexagram: Mountain over Lake, Decrease — Those who sold at $81,000 are counting their money; those stubbornly holding at $64,000 are left holding the bag.
Miners aren't hoarding coins anymore: MARA sold 40,581 BTC in a year and is using the money to build AI data centers
Data: Lookonchain's Nov. 10 tally, MARA shareholder letter (Nov. 9); price snapshot at 15:23.
As of Nov. 10, 14 publicly traded companies had sold a total of 108,247 BTC (about $8.08 billion). MARA alone sold 40,581 BTC (about $3.03 billion, at an average price of $74,446), accounting for 37.5%; Riot sold 20,264 BTC, bringing the two companies' combined share to 56%.
The shareholder letter states that MARA sold 26,984 BTC in the first nine months, raising $1.9 billion; after Sept. 30, it sold another 13,597 BTC at an average price of $81,039, raising $1.1 billion. It used $750 million to repay secured loans and redeem 17,477 BTC in collateral; total debt has fallen 37% since the start of the year. The company also said it would keep selling coins to build AI infrastructure.
Miners used to hold onto their coins without selling as a matter of faith. Now MARA has changed the rules: coins are cash, not totems. Honestly, considering today's price of about $64,472, that batch sold at $81,039 doesn't look like a bad deal.
What do you think of MARA's move to sell those 13,597 BTC at an average price of $81,039?
Follow me—I keep track of the coins in miners' hands for you every day in three updates. When the next sell order comes in, I'll report it right away.
The hexagram has been cast; set your own position. —Sheng Shou
For entertainment purposes only; not investment advice.
#玄学炒币 #MARA #BTC #Miner
Miners aren't hoarding coins anymore: MARA sold 40,581 BTC in a year and is using the money to build AI data centers
Data: Lookonchain's Nov. 10 tally, MARA shareholder letter (Nov. 9); price snapshot at 15:23.
As of Nov. 10, 14 publicly traded companies had sold a total of 108,247 BTC (about $8.08 billion). MARA alone sold 40,581 BTC (about $3.03 billion, at an average price of $74,446), accounting for 37.5%; Riot sold 20,264 BTC, bringing the two companies' combined share to 56%.
The shareholder letter states that MARA sold 26,984 BTC in the first nine months, raising $1.9 billion; after Sept. 30, it sold another 13,597 BTC at an average price of $81,039, raising $1.1 billion. It used $750 million to repay secured loans and redeem 17,477 BTC in collateral; total debt has fallen 37% since the start of the year. The company also said it would keep selling coins to build AI infrastructure.
Miners used to hold onto their coins without selling as a matter of faith. Now MARA has changed the rules: coins are cash, not totems. Honestly, considering today's price of about $64,472, that batch sold at $81,039 doesn't look like a bad deal.
What do you think of MARA's move to sell those 13,597 BTC at an average price of $81,039?
Follow me—I keep track of the coins in miners' hands for you every day in three updates. When the next sell order comes in, I'll report it right away.
The hexagram has been cast; set your own position. —Sheng Shou
For entertainment purposes only; not investment advice.
#玄学炒币 #MARA #BTC #Miner
