MARA Holdings sells 13,597 bitcoin and repays $750 million in loans

BeInCrypto reported that MARA Holdings sold 13,597 bitcoin following its third-quarter results, generating about $1.1 billion. The sale equals roughly 40 percent of the 34,012 BTC the company held before the transaction.

In its Q3 shareholder letter, released Monday, the company said it repaid $750 million in Bitcoin-backed term loans. Those loans had been funded while the purchase of the Long Ridge gas plant was pending, and repaying them released 17,477 BTC that had served as collateral. The letter also says further sales are expected.

Third-quarter revenue fell 35 percent to $164.2 million, while net income climbed to $632.1 million, a rise the figures attribute to an unrealized gain. The board approved a share buyback of up to $500 million, and put rights on the convertible notes become exercisable next year.

The company is targeting AI tenant leases before year-end, though it acknowledged those may slip into 2027. MARA chief executive Fred Thiel said the moves do not amount to a pivot away from Bitcoin.