MARA Sells 13,597 Bitcoin For $1.1B To Wipe Out $750M In Loans
Bitcoin miner MARA Holdings sold 13,597 Bitcoin for about $1.1 billion after September and used $750 million of the cash to pay off all of its bitcoin-backed loans, its quarterly filing showed on Monday.
Key Takeaways
- MARA sold 13,597 Bitcoin after the quarter ended Sept. 30, raising about $1.1 billion
- It used $750 million of that to repay in full its loans from Coinbase Credit and Two Prime
- All the Bitcoin pledged as collateral for those loans, 17,477 coins at the end of September, was returned to MARA
- MARA reported a net loss of $1.24 billion for the first nine months of 2026, against a $397.9 million profit a year earlier
MARA disclosed the sale in its quarterly report, filed with the SEC on Nov. 9.
The Loans MARA Just Wiped Out
MARA took out the two loans on Aug. 4, borrowing $750 million in total against its Bitcoin. The bigger one, $450 million from Coinbase Credit, was backed by 11,250 Bitcoin and was not due until August 2028.
Instead of waiting, MARA sold coins and cleared the debt within weeks of the quarter ending. Paying off a loan backed by Bitcoin removes the risk that a falling price forces the lender to sell the pledged coins.
| MARA’s Bitcoin Move | Figure |
|---|---|
| Bitcoin sold after Sept. 30 | 13,597 BTC |
| Cash raised | About $1.1B |
| Loans repaid in full | $750M |
| Bitcoin pledged for those loans at Sept. 30 | 17,477 BTC |
Also Read: CFTC Bans 8 Salesmen Who Pushed Risky Offshore Currency Bets On Americans
A Tough Nine Months
The filing shows MARA lost $1.24 billion in the first nine months of 2026, compared with a $397.9 million profit in the same stretch of 2025. It ended September with $946.5 million in cash, up from $547.1 million at the end of 2025.
MARA also said US energy regulator FERC approved its planned purchase of Long Ridge on Nov. 4, clearing a key condition for the deal to close.
For Bitcoin watchers, the sale is a reminder that big miners do sell. MARA has long been one of the largest corporate holders of Bitcoin, and a sale of more than 13,000 coins shows it is choosing a cleaner balance sheet over holding every coin.
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