Crypto News
Wallets linked to Bitcoin miner MARA Holdings sent 1,000 BTC, worth about $82.8 million, to Binance and Gate over five days, in a transfer on-chain tracker Lookonchain flagged as the second large MARA-linked movement of October. An earlier transfer moved 996 BTC, valued near $81.13 million, to a Galaxy Digital address on October 9.
Why it matters
MARA reported holding 35,577 BTC at the end of June, including 9,270 BTC loaned out or pledged as collateral, so the latest 1,000 BTC represents roughly 2.8% of disclosed holdings. The company is a demonstrated opportunistic seller: it sold 2,213 BTC in the second quarter at an average price of $73,078 and offloaded 15,133 BTC in March to fund convertible-debt buybacks, and has said it expects to keep selling when it sees a reason. That policy makes a disposal plausible, but nothing yet confirms these particular coins were sold.
Market impact
Bitcoin trades near $83,000, up 1.5% over 24 hours but still down from its October 1 level, and thin liquidity, weaker ETF demand and geopolitical risk have made the market more sensitive to the prospect of a large miner seller. MARA's third-quarter results are the next checkpoint showing how many of the deposited coins, if any, reached the market; until then, the accurate read is an exchange inflow stirring fresh selling speculation.
Frequently asked questions
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How much Bitcoin does MARA hold?
MARA reported holding 35,577 BTC at the end of June, including 9,270 BTC that had been loaned out or pledged as collateral.
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What share of MARA's treasury is the 1,000 BTC sent to exchanges?
The 1,000 BTC represents roughly 2.8% of MARA's disclosed 35,577 BTC holdings, a meaningful flow to monitor but not by itself a measure of realized selling pressure.
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Has MARA sold Bitcoin before?
Yes. MARA sold 2,213 BTC in the second quarter at an average price of $73,078 and separately sold 15,133 BTC in March to fund convertible-debt buybacks, and it has said it expects to keep selling opportunistically.
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Who flagged the MARA wallet transfers to exchanges?
On-chain tracker Lookonchain flagged the deposits of 1,000 BTC to Binance and Gate, along with an earlier October 9 movement of 996 BTC, worth about $81.13 million, to a Galaxy Digital address.
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When will it be clear whether MARA actually sold the deposited BTC?
MARA's third-quarter results are the next company reporting checkpoint that will show how many of the deposited coins, if any, were sold.
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