MARA Sends 996 BTC to Galaxy Digital After AI Shift
The transfer fits into MARA’s reduction of its BTC treasury as the miner shifts more capital toward AI and high-performance computing.
Key Takeaways
- MARA Holdings sent about 996 BTC, worth $81.13 million, to an address that Lookonchain says belongs to Galaxy Digital.
- The transfer does not confirm a sale, but it fits into a broader reduction of MARA’s Bitcoin holdings.
- MARA is shifting more toward AI and high-performance computing, while the stock was up 2% in Friday pre-market trading.
Bitcoin miner MARA Holdings transferred about 996 BTC, worth $81.13 million (€72.5 million), to an address that Lookonchain says belongs to Galaxy Digital. The transaction does not confirm a sale, but it does fit into a period in which MARA is steadily shrinking its Bitcoin holdings while putting more focus on AI and high-performance computing.
Treasury Keeps Shrinking
For a long time, MARA was mainly a pure Bitcoin miner, but the company has broadened its strategy. In March, it sold 15,133 BTC for about $1.1 billion (€1 billion), mainly to buy back convertible debt and strengthen its balance sheet.
After that, the company’s Bitcoin holdings kept falling. MARA still held 53,822 BTC on February 26, while that number had dropped to 35,577 BTC by August 7. The new transfer to Galaxy Digital shows that this reduction is still going on, although it is not known whether the coins were actually sold.
More Focus on AI Infrastructure
The shift toward AI is not new. MARA has already been investing in artificial intelligence and high-performance computing infrastructure, and in February it announced a strategic partnership with Starwood Capital Group to develop digital infrastructure for enterprise, hyperscale, and AI customers.
That makes the Bitcoin move relevant for investors who follow MARA not just as a miner, but also as a company trying to broaden its revenue base. For European crypto followers, it is also an example of how miners sometimes use their BTC holdings as a funding source while building new businesses.
Stock Reacts on Friday
MARA shares were up 2% in Friday pre-market trading at $10 (€8.94). That came alongside a recovery in Bitcoin above $82,000 (€73,300) over the past 24 hours. The stock move does not directly say anything about the BTC transfer itself, but it does show that MARA still moves closely with the Bitcoin market.
Broader market action also played a role: Bitcoin recovered to $82,000 after an earlier dip, which often hits miners and other publicly traded crypto stocks right away.
