Bitcoin mining firm MARA sold roughly 14,000 Bitcoin after the quarter, raising $1.1 billion, with the proceeds likely to be used for artificial intelligence infrastructure.
21 minutes ago
Bitcoin mining firm MARA Holdings (MARA) disclosed in its Q3 2026 report and shareholder letter filed on November 9 that after the third quarter ended, the company sold 13,597 bitcoins at an average price of roughly $81,039, bringing in around $1.1 billion in proceeds. It used $750 million of that sum to fully repay bitcoin loans borrowed from Coinbase Credit and Two Prime, and released 17,477 bitcoins previously pledged as collateral. The sale represents approximately 40% of MARA’s 34,012 bitcoin holdings as of September 30. The shareholder letter noted the $750 million loan was taken on August 4, comprising $600 million in new financing and $150 million to replace an existing line of credit, to fund the Long Ridge acquisition. The company borrowed against its bitcoin holdings when the cryptocurrency traded at around $64,000, and sold the coins at the aforementioned average price after the quarter, generating an estimated net profit of roughly $170 million. Following the repayment, the share of MARA’s bitcoins that were lent or pledged as collateral fell to below 5%, down from about 57% at the end of Q3. The firm also said it has cut its debt by $1.4 billion since the start of 2026, equal to 37% of its total debt. The letter added MARA will continue to sell bitcoins as market conditions permit to boost financial flexibility, with proceeds potentially allocated to artificial intelligence (AI) infrastructure, convertible bond put options exercisable next year, and potential share repurchases. In the first nine months of 2026, MARA has sold approximately 26,984 bitcoins, generating $1.9 billion in proceeds.
Grayscale: Zcash’s monthly active developers have roughly doubled over the past two years, with around 70% of developers holding over one year of experience in crypto development.
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More than one extramarital affair? Jensen Huang exposed to having an extramarital relationship with company executive Kimberly Powell.
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Bloomberg: The Federal Reserve is internally discussing the tenure of Williams, whose term could end in either 2027 or 2028.
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NVIDIA's board of directors is preparing to oust Jensen Huang, with its US-listed NVDA stock falling as much as 9% in after-hours trading.
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Probability of Jensen Huang being ousted surges to 88%
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MSCI announced it will remove Strategy from its U.S. indices, with the adjustment taking effect on November 30.
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