These Two Bitcoin Miners are Getting Ready to Sell Their Bitcoin

Bitcoin Magazine

These Two Bitcoin Miners are Getting Ready to Sell Their Bitcoin

For miners that once championed a ‘never sell’ ethos, the calculus is shifting as MARA Holdings disclosed in its latest annual filing that it would allow the sale of its bitcoin.

MARA said in a filing that they expanded their crypto management strategy for 2026 to permit sales of bitcoin held on its balance sheet. This shift builds on the company’s 2025 policy that allowed sales only from newly mined production, marking a break from the long-standing practice of treating mined bitcoin as a long-term treasury reserve.

As of Dec. 31, 2025, MARA held 53,822 bitcoin valued at about $4.7 billion based on a year-end spot price of $87,498. During the year, the company recorded a $422.2 million decrease in the fair value of its holdings as bitcoin prices fluctuated. 

The filing shows that about 28% of its bitcoin was deployed in lending, trading, or collateral arrangements, including 9,377 bitcoin loaned to counterparties and 5,938 bitcoin pledged against $350 million in outstanding credit facilities.

Those lending activities generated $32.1 million in interest income, according to the filing. 

The policy revision gives MARA flexibility to buy or sell BTC depending on market conditions and capital allocation priorities. It does not require immediate liquidation, but it introduces a formal framework for tapping reserves that were once considered untouchable.

MARA operates roughly 490,000 mining rigs and reported 66.4 exahashes per second of energized hashrate at year-end 2025. Total energy capacity stood near 1.9 gigawatts, with purchased energy costs reaching $179.0 million during the year. 

The company mined 8,799 bitcoin in 2025, down from 9,430 in 2024, reflecting the impact of the April 2024 halving and rising network difficulty.

The move comes as miners face tighter economics. Revenue remains tied to bitcoin’s market price, while costs such as electricity, infrastructure, and financing remain fixed or rising. Holding large BTC treasuries can amplify gains in bull markets but also magnify balance sheet pressure during downturns.

MARA is also advancing plans to develop data centers tailored for artificial intelligence and high-performance computing workloads. The company has described its power-rich sites as suited for customers that require consistent access to energy at scale. Such projects demand significant capital and long-term planning, factors that can make treasury monetization an appealing source of funding.

Core Scientific is hopping on the bitcoin selling band-wagon

The shift is not isolated. Core Scientific said this week that it expects to monetize substantially all of its bitcoin holdings in 2026 as part of a broader transition toward AI and high-density colocation services. 

In January, the company sold about 1,900 BTC for approximately $175 million, implying an average price near $92,000 per coin. At the e   

Vimal Sharma

Vimal Sharma

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Vimal Sharma

Vimal Sharma

A dedicated blog writer with a passion for capturing the pulse of viral news, Vimal covers a diverse range of topics, including international and national affairs, business trends, cryptocurrency, and technological advancements. Known for delivering timely and compelling content, this writer brings a sharp perspective and a commitment to keeping readers informed and engaged.

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