MARA Holdings has shifted its long-standing strategy of holding Bitcoin indefinitely. Between March 4 and March 25, 2026, the company sold 15,133 BTC, generating approximately $1.1 billion at an average price of $72,700 per coin. By June 30, 2026, total sales for the first half of the year reached 23,093 BTC, bringing in $1.6 billion.
The proceeds were primarily used to repurchase $1 billion in convertible senior notes due in 2030 and 2031. By executing these private transactions at a 9% discount to par, the company captured $88 million in value and reduced its convertible debt load by approximately 30%.
MARA is redirecting its infrastructure toward AI high-performance computing data centers. The company partnered with Starwood Capital Group to target nearly 1 GW of computing capacity, with potential to scale beyond 2.5 GW. Additionally, MARA acquired the Long Ridge Energy natural gas plant in Ohio to secure its own electricity supply.
Following these sales, MARA's Bitcoin holdings decreased from 53,822 BTC at the end of February 2026 to approximately 35,577 BTC as of June 30, 2026. The company now intends to utilize periodic Bitcoin sales as a capital management tool to fund its transition into AI infrastructure and mitigate margin pressure caused by Bitcoin halving.
