Mara Holdings dumps $1 billion in Bitcoin; Here’s why

Cryptocurrency Mar 26, 2026

MARA Holdings (NASDAQ: MARA) announced that it sold 15,133 Bitcoin (BTC) between March 4 and March 25, 2026, continuing a strategic effort to strengthen its balance sheet.

The company liquidated $1.1 billion in Bitcoin, according to its March 26 announcement, then allocated $912.8 million for privately negotiated repurchase agreements with select Convertible Senior Notes holders due 2030 and 2031.

With $187.2 million in unused proceeds from the BTC sale, the company captured $88 million in value by retiring over $1 billion of face-value debt at a discount. As a result of this sale, MARA’s cumulative total Bitcoin sell-off surged to 19,209 BTC to date.

“By retiring over $1 billion of face value debt at a discount, we captured approximately $88 million in value that would otherwise have been lost, reduced potential shareholder dilution, and leveraged our bitcoin holdings to meaningfully de-lever the balance sheet on our terms,” MARA Holdings stated.

MARA currently holds 38,689 BTC, valued at approximately $2.68 billion as of this reporting.

Mara Holdings’ Bitcoin sale lifts its stock

As a direct result of the significant Bitcoin sale, MARA stock gained over 9% on Thursday, to trade at approximately $9.15 at the time of publication. At the same time, while the $3.15 billion company capitalised on its BTC holdings, Bitcoin price fell over 3% in the past 24 hours to trade around $69,530 at the time of reporting.

Despite this transaction, MARA remains heavily invested in Bitcoin, thereby preserving a strong correlation between its balance sheet and BTC price action. This means that, should Bitcoin continue to decline in the coming weeks and months, MARA stock could fall in tandem.

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