About $1.1 billion cashed out as MARA sells 13,597 bitcoins
According to Odaily, Bitcoin News posted on X that MARA has sold 13,597 Bitcoin since the end of last September, cashing out around $1.1 billion, which accounts for about 40% of the 34,000 Bitcoin it held at that time. Its 10-Q filing shows that $750 million of the proceeds were used to repay Bitcoin-collateralized loans from an exchange and Two Prime, releasing 17,477 Bitcoin pledged as collateral. In that quarter, MARA's revenue fell by 35% to $164.2 million, and the average price of the Bitcoin it mined dropped by 37% to $71,700. MARA plans to continue selling Bitcoin to fund AI data centers.
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