MARA Digital Holdings (Nasdaq: MARA) moved another 1,000 BTC from its public wallets. The coins left for Binance and Gate exchange addresses, extending the company’s selling streak in 2026.
MARA Digital Holdings is still liquidating its reserves. On-chain data showed 1,000 BTC moved in tranches of 100 and 500 BTC.
The coins originated from the MARA Miner wallet, as the company continues to produce new coins and support its usual hashrate. The recent sale has not been announced, but is part of the larger trend of MARA liquidating its mined reserves.
As Cryptopolitan reported earlier, MARA sold over 23,000 BTC in the first half of 2026.
MARA is still a top 5 BTC holder
The recent sale does not signal a capitulation or a decision to liquidate the BTC reserve. As of October 19, MARA still holds 35,577 BTC, retaining its top 5 position among companies with sizeable BTC reserves.
MARA’s last sale was in early August, once again selling over 800 BTC. MARA’s reserves also grow gradually based on its mining operations. The company had its cliff sale in March 2026, and mostly moved smaller amounts of BTC in the second half of the year.
MARA still works with over 59 EH/s in mining power, solving roughly 2-3 blocks in a 24-hour period, or more if competition remains lower. The pool has accelerated mining since 2024 and has retained near-peak levels over the past year.
Despite this, MARA, as well as other miners, is now among the regular sellers of spot BTC. Miners no longer show confidence in holding most of their block rewards, and prefer to lock in gains at levels over $83,000.
For MARA, selling is an opportunity to cover operating costs, optimize its debt, and boost its investment in new AI compute data centers. The company aims to secure energy with up to 4.8GW in power for its data centers, while also including immersion cooling for high-performance AI computation services.
MARA stock trades near one-year lows
Earlier MARA announcements lifted its shares to 2026 highs, with the stock rising above $14 in May. As of October 19, MARA traded at $7.53, following the general trend in miner and AI data center stocks.
The falling stock has led to over 26% of the free float locked in short open interest. Despite this, MARA has not seen significant failures to deliver since a wave of shorting the stock in March.
The elevated short open interest caused questioning from shareholders, who noted 100M MARA shares were sold short. Some of the questions raised include identifying some of the trading entities or unusual trading patterns. The main concern is that the short open interest is not just used for hedging, but for bearish speculation against MARA.
As the AI narrative slows down and the data centers still await to be built and run fully, MARA shares are also expected to drop to a lower range.
For some analysts, MARA shares are no longer trading on their AI premium. This may bring back the BTC reserves and mining operations as a driver of demand for MARA stock in an eventual recovery.
The company still has 19 running mining sites and five new ones in the pipeline, while AI infrastructure and contracts are still at an early stage and may not be reflected in the company’s revenues for years.
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