MARA Sells $1.1 Billion in Bitcoin, Revenue Falls 35% - bloomingbit

Bitcoin miner MARA Holdings sold 13,597 Bitcoin after the third quarter ended, raising approximately $1.1 billion. The company used these proceeds to fully repay its $750 million Bitcoin-backed loan, which had been secured by pledging 17,477 Bitcoin as collateral.

Financial Results

In its third-quarter 2026 earnings report, MARA revealed revenue fell 35% year-over-year to $164.2 million. Despite this decline, the company posted net income of $632 million, boosted by about $885 million in fair-value gains on its digital assets.

The average sale price for the Bitcoin was $81,039 per token. As of September 30, MARA's Bitcoin holdings stood at 34,012, down 36% from a year earlier.

Production vs Holdings

While reducing its holdings, MARA increased Bitcoin production during the same period by 5% to 2,247 tokens. This divergence between production and holdings reflects the company's strategic financial decisions.