BEARISH 📉 : MARA may sell $3.5 billion in Bitcoin reserves amid challenges

MARA Holdings Adjusts Bitcoin Strategy

MARA Holdings, a major Bitcoin mining company, plans to change its treasury policy, allowing it to sell its Bitcoin reserves.
The company holds 53,822 BTC, valued at about $3.59 billion, making it the second-largest publicly traded corporate holder of Bitcoin. Bitcoin details are available on Holder.io.
This shift comes as MARA faces potential financial strain due to prolonged low Bitcoin prices, impacting its balance sheet and liquidity.
MARA's production cost per Bitcoin is approximately $87,000, while current trading is around $66,690, resulting in losses per mined block.
MARA acquired 4,267 BTC in 2025 at an average price of $111,034 each, now about 38% below purchase price.
The company's strategy may affect the broader market if significant reserves are liquidated during a period of market decline.
Analyst Shanaka Anslem notes that blockchain data will reveal if MARA begins selling its holdings. No outflows in the next 90 days could suggest maintained flexibility rather than immediate sales.

If large transfers occur amidst current market conditions, it might trigger a "supply bomb" effect, affecting other miners with substantial treasuries.

MARA