MARA Holdings has transferred 1,000 BTC, valued at approximately $82.8 million, to the Binance and Gate exchanges over a five-day period in October. This activity was identified by the on-chain analytics platform Lookonchain. Previously, on October 9, the company moved 996 BTC, worth about $81.13 million, to an address associated with Galaxy Digital.
While these transfers to exchanges and trading desks are tracked, they do not definitively confirm a sale, as assets may be moved for collateral or custody changes. According to the company's second-quarter shareholder letter, MARA held 35,577 BTC as of the end of June, with 9,270 BTC pledged or loaned. During that quarter, the firm sold 2,213 BTC at an average price of $73,078.
The company has previously stated its intention to sell Bitcoin on an opportunistic basis. In March, MARA sold 15,133 BTC to facilitate a convertible debt buyback. The recent 1,000 BTC transfer represents roughly 2.8% of the holdings reported in June. Other industry participants are also active; on October 16, Hut 8 deposited 1,589 BTC, valued at $130 million, to exchanges.
Market data indicates that Bitcoin traded at $82,573 as of the report date, reflecting a 1.07% increase over 24 hours. Despite this, the cryptocurrency remains down 1.18% since the beginning of October and is trading approximately 34.5% below its all-time high of $126,080 recorded in October 2025. Financial results for the third quarter are expected to clarify the volume of actual sales.
