MARA Transfers $81.1 Million in Bitcoin to Galaxy Digital

Bitcoin miner MARA Holdings has transferred approximately 996 BTC, valued at $81.13 million, to an address identified as belonging to Galaxy Digital, according to data tracked by Lookonchain.

The transfer was reported by CoinDesk on Friday. While the coins were moved to the digital asset firm, the transaction alone does not confirm that Galaxy Digital executed a sale.

Treasury Shifts Amid AI Pivot

MARA, which was previously solely focused on bitcoin mining, has expanded its business operations into artificial intelligence and high-performance computing infrastructure. To support its broader operational strategy and strengthen its balance sheet, the company has reduced portions of its substantial bitcoin treasury.

Historical holdings data from Bitcoin Treasuries shows that MARA held 53,822 BTC on Feb. 26. The company's bitcoin reserves decreased steadily to 35,577 BTC by Aug. 7, marking a reduction of 18,245 BTC over the period as the miner reduced debt and scaled up its AI infrastructure.

Market Context

MARA previously sold 15,133 BTC for approximately $1.1 billion in March, primarily to fund the repurchase of convertible debt.

Following the recent transaction, MARA shares rose 2% in pre-market trading on Friday to $10. The wider crypto market saw bitcoin recover above the $82,000 threshold over a 24-hour period.

Key facts

• MARA Holdings transferred approximately 996 BTC worth $81.13 million to a Galaxy Digital address.
• Lookonchain data flagged the transfer, though the transaction does not confirm a sale.
• The miner's treasury declined from 53,822 BTC in February to 35,577 BTC in August.
• The reduction in bitcoin holdings coincides with MARA's debt reduction and expansion into AI infrastructure.