MARA sold $1.6 billion of bitcoin in first half

MARA Holdings sold approximately 23,093 bitcoins, generating $1.6 billion in revenue during the first half of 2026. This marked a significant shift from the company's previous strategy of holding onto all the bitcoin it produced. The sales, disclosed in the company's quarterly regulatory filing, were cumulative for the six months ending June 30, not a single transaction.

The company now sells bitcoin on an ongoing basis, depending on market conditions and capital requirements. The average price per bitcoin was around $69,300. In March, MARA sold 15,133 bitcoins for $1.1 billion as part of a balance sheet restructuring program, which helped reduce the company's borrowings. Total debt declined from about $3.6 billion at the end of December 2025 to $2.4 billion by June 30, after repurchasing $367.5 million and $633.4 million of notes.

Despite selling bitcoin, MARA remains one of the largest corporate holders of the cryptocurrency, holding 35,577 bitcoins at the end of June, valued at about $2.1 billion. The holdings have decreased from 53,822 in December 2025. During the second quarter, MARA mined 2,422 bitcoins. As of June 30, the company had $421.3 million in cash and cash equivalents, combined with bitcoin resources of approximately $2.5 billion.