MARA Stock Rises 5% as Miner Sells 40% of Its Bitcoin Stash

TLDR

MARA Holdings (MARA)closed at$6.64 on Monday. The stock increased more than 4.5 %in the routine session and was little bit altered after hours.

MARA Holdings, Inc., MARA

The relocation came as the business submitted its third-quarter investor letterThe letter held a huge surprise about what MARA finished with its coins.
The miner offered 13,597 bitcoin

for about $1.1 billion after the quarter ended. The typical cost was approximately$ 81,039 per coin.

MARA, a Leading Listed Bitcoin Miner, Sells$1.1 Billion in BTC as Revenue Falls 35 %
MARA, among the world’s biggest openly traded Bitcoin mining business, revealed in its Q3 2026 profits that it offered 13,597 BTC after quarter-end at a typical rate of $81,039, raising … pic.twitter.com/zHVqppwidT

— Wu Blockchain (@WuBlockchain) November 10, 2026

That is 40% of the 34,012 bitcoin MARA held at the end of September. It likewise offered 6 times as much bitcoin in about 6 weeks as it mined throughout all of Q3.
Where the Cash Went
The majority of the cash went to lending institutions. MARA utilized $750 million to totally pay back loans protected by its bitcoin.

That released 17,477 coins it had actually vowed as security. Less than 5%of its staying holdings are now provided out or vowed, below 57% at the end of September.
MARA got those loans in August to assist money its scheduled purchase of Long Ridge, a natural-gas power service. It cleared the financial obligation before that offer closes.
Because January, the company has actually cut its overall financial obligation by 37% to $1.4 billion. Some shareholders can require early payment beginning next year.
A Shift From Its Old Playbook
In July 2024, MARA’s treasury policy guaranteed to keep what it mined and purchase more coins. That altered in 2025, when it started permitting sales of freshly mined bitcoin.
This year it expanded the policy to cover its collected holdings. Sales struck 26,984 BTC in the very first 9 months, and the current sales press the 2026 overall above 40,000 BTC.
MARA is still the fifth-largest business bitcoin treasury. Make every effort passed it in current months.
The numbers behind the quarter were blended. Profits fell 35% to $164.2 million, below $174.9 million in the previous quarter.
Block benefit earnings dropped 37%. Net earnings still was available in at $634.4 million, up from $123.1 million a year back.
The space originates from an accounting gain of almost $885 million, connected to bitcoin’s increase throughout the quarter. To put it simply, the earnings originated from coin costs, not from mining.
“We plan to continue utilizing bitcoin to develop money for functions such as AI facilities chances,” MARA composed. The board has actually likewise licensed buybacks of as much as $500 million.
CEO Fred Thiel stated the chance is “larger than generating income from the megawatt.” He desires MARA to move from power to facilities to calculate, and after that to complete cloud options.
The business now states it will concentrate on protecting client leases and complimentary capital. Thiel included that MARA needs to “carry out with discipline.”
MARA anticipates to close Long Ridge in the coming weeks. The plant is licensed to offer 485 megawatts of power, and the land around it might host a data-center school.
It likewise holds advancement rights to a Texas website that might reach 2 gigawatts. MARA is targeting 2 brand-new data-center leases before year-end, though talks might slip into 2027.