Key Takeaways
MARA Holdings sold 15,133 Bitcoin for $1.1 billion and cut 15% of its workforce as the public company pivots from crypto mining to AI and energy, according to an announcement on April 3, 2026.
"We may buy or sell from time to time, subject to market conditions and our capital allocation priorities," Robert Samuels, MARA’s vice president for investor relations, said, framing the sale as a short-term tactical move rather than a core shift in strategy.
The sale reduces MARA's treasury to 38,689 BTC, with the $1.1 billion in proceeds used to repurchase convertible senior notes and for general corporate purposes. The move is part of a broader trend, with companies like Genius Group, Bitdeer, and Cango Inc. also liquidating Bitcoin holdings in recent months.
The pivot could spark further selling from other digital asset treasury (DAT) companies, potentially creating a "contagion" effect, according to market analyst Nic Puckrin. He projects Bitcoin could fall to a range of $55,700-$58,200 if ongoing market weakness puts more pressure on corporate treasuries.
MARA's sale is the largest in a series of liquidations by publicly traded companies this year. In March, MARA Holdings sold 15,133 BTC, dropping its treasury to the third-largest corporate holding behind Twenty One Capital. This followed February sales by AI tech firm GD Culture Group, which authorized the sale of part of its 7,500 BTC treasury, and mining company Bitdeer, which sold its entire 943 BTC stash.
AI-powered education company Genius Group also revealed it sold its remaining 84 BTC in the first quarter to pay off debt, a reversal of its previous "Bitcoin first" strategy.
The selling trend is in sharp contrast to Michael Saylor’s Strategy, the world’s largest corporate Bitcoin holder. The firm has continued to accumulate Bitcoin, purchasing 89,581 BTC so far this year, according to the Saylor Tracker.
“Strip out Strategy, and the rest of the ecosystem’s buying pace has collapsed,” the analytics outlet BitcoinMiningStock reported in March, highlighting the concentration of corporate buying. While MARA's leadership insists its Bitcoin strategy isn't over, the significant sale and pivot to AI marks a major strategic shift for one of the industry's most prominent miners.
This article is for informational purposes only and does not constitute investment advice.
