Wallets Linked to MARA and Hut 8 Deposit 2,589 BTC at Exchanges

Wallets linked to Bitcoin miners MARA Holdings and Hut 8 Corp. deposited a combined 2,589 Bitcoin (BTC) at exchanges in separate October transfers, drawing attention to potential miner sales.

MARA-linked wallets sent 1,000 BTC to Binance and Gate over five days through Oct. 19. The coins were valued at about $82.8 million when the transfers were identified.

A Hut 8-linked wallet deposited 1,589 BTC at multiple exchanges over two days through Oct. 16. Those coins were valued at about $130 million at the time.

The two estimates total $212.8 million, but they were calculated on different dates and do not represent a single valuation of the coins. Depositing Bitcoin at an exchange makes it available for trading. The wallet movements do not show that either miner completed a sale or establish an effect on BTC’s price.

MARA sold approximately 23,093 BTC in the six months ended June 30, 2026, to fund operations, support growth and manage liquidity. Hut 8 directly held approximately 9,314 BTC on June 30, separate from the holdings of its American Bitcoin subsidiary.