Bitcoin mining behemoth MARA (once known as Marathon Digital, before someone decided a snappier name was needed) has gone and snapped up 1,000 BTC-roughly $66.7 million worth of digital dosh. One imagines the accountants fainting gently into their spreadsheets.
The whole caper was carried out through FalconX, an institutional platform that sounds rather like a club where monocled gentlemen gather to trade crypto over cucumber sandwiches.
This bold purchase follows the company’s earlier enthusiasm for selling off Bitcoin in the first quarter of 2026-a period during which MARA behaved like a man clearing out his attic and discovering he owns far more junk than he remembered.
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During that particular spree, MARA unloaded a jaw-dropping 20,880 Bitcoin for about $1.5 billion. One imagines the CFO cackling with the sort of glee usually reserved for villains in silent films.
MARA’s previous Bitcoin sales
Earlier in the year, the company gave its digital asset management policy a hearty shake, allowing itself to sell coins already lounging on the balance sheet. A dramatic shift from the 2025 policy, which only permitted the sale of freshly mined Bitcoin-like insisting one only serve bread still warm from the oven.
On Feb. 6, MARA shuffled 1,318 BTC-worth nearly $87 million at the time-into the arms of institutional custody and liquidity platforms such as Two Prime, BitGo, and Galaxy Digital. One imagines these platforms receiving the coins with the enthusiasm of a butler handed a surprise weekend off.
Between March 4 and March 25, 2026, the company sold another 15,133 Bitcoin for roughly $1.1 billion. At this point, MARA was selling Bitcoin faster than a nervous debutante sheds suitors at her first ball.
The proceeds were used to fund a $1.0 billion privately negotiated repurchase of the company’s outstanding 0.00% Convertible Senior Notes due in 2030 and 2031-a financial maneuver that sounds terribly important and likely caused several board members to nod gravely.
In the process, MARA pocketed about $88.1 million in cash savings before transaction costs. MARA Chairman and CEO Fred Thiel explained that the grand plan was to de-lever the balance sheet and avoid future shareholder dilution-both noble aims, though one suspects shareholders would also appreciate a complimentary biscuit now and then.
MARA wasn’t the only miner offloading Bitcoin. Publicly listed mining firms collectively sold more than 32,000 BTC in Q1 2026, setting a new record for single-quarter miner sales. One might say the entire industry was spring-cleaning with gusto.
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2026-06-16 09:39