MARA-Linked Wallets Move $82.8 Million in Bitcoin to Exchanges

Wallets labeled as linked to MARA Holdings sent 1,000 Bitcoin (BTC), worth about $82.8 million, to exchange addresses over five days as the miner’s shares slid.

The identified destinations were addresses tied to Binance and Gate. The $82.8 million figure represents the estimated value of the transferred coins, not sale proceeds. Moving bitcoin to an exchange does not, by itself, establish that a sale occurred.

MARA shares closed at $7.53 on Oct. 16, down 44.8% from their $13.63 close on Sept. 22. The stock fell 9.6% on Oct. 16 alone. That share-price decline spans a longer period than the five days covered by the wallet activity.

MARA sold about 23,093 BTC for $1.6 billion during the six months ended June 30 and held 35,577 BTC at quarter-end. The company sells bitcoin produced by its mining operations on an ongoing basis. It may also sell additional holdings depending on market conditions and its capital allocation priorities.