MARA Sells Half of Mined Bitcoin for the First Time in Over a Year

MARA has sold 49% of its mined bitcoin for the first time in 16 months, marking a shift in its treasury strategy amid rising network difficulty and stronger uptime performance.

MARA Adjusts Its Bitcoin Treasury Strategy

U.S.-based bitcoin mining giant MARA (Marathon Digital) has sold a portion of its mined bitcoin for the first time in more than a year. According to its September update, the company liquidated 49.32% of the 736 BTC it mined during the month, ending a 16-month streak of full hodl mode.

The sale coincided with a notable improvement in operational performance. MARA’s realized hashrate climbed 15.12% month-over-month to 53.3 EH/s, representing 88.27% of installed capacity. Improved uptime enabled the company to capture around 5.15% of total global bitcoin block rewards in September.

Stronger Uptime and Market Adaptation

By the end of the month, MARA held 52,850 BTC on its balance sheet, valued at roughly $6.3 billion at current prices.

While MARA had previously maintained a strict hodl-only policy since May 2024, the latest sale likely reflects an effort to enhance liquidity and fund ongoing infrastructure investments.

Analysts note that miners across the industry are facing increasing pressure from rising network difficulty and a declining hashprice, which measures revenue per unit of hashrate. Persistently low transaction fees further squeeze profitability, forcing companies to diversify their treasury strategies.

MARA Reinforces Its Market Leadership

Despite tightening margins, MARA continues to expand its self-mining capacity and strengthen its data center operations, confirming its role as one of the most influential players in the global bitcoin mining landscape.