MARA Holdings Transfers $81.1 Million in Bitcoin to Galaxy Digital Amid AI Expansion
MARA Holdings transferred approximately 996 bitcoin worth $81.13 million to an address identified as belonging to Galaxy Digital, according to blockchain analytics tracked by Lookonchain. The movement comes as the Bitcoin miner expands into artificial intelligence and high-performance computing while reducing its cryptocurrency holdings.
The transfer does not, by itself, establish that Galaxy Digital sold the bitcoin. The transaction's purpose and whether the recipient executed any subsequent sale were not confirmed in the source information.
MARA Continues to Reduce Its Bitcoin Treasury
The Florida-based company, previously focused on Bitcoin mining, has broadened its strategy to include artificial intelligence and high-performance computing infrastructure. It has also begun selling portions of its bitcoin reserves to strengthen its balance sheet and support its changing business priorities.
In March, MARA sold 15,133 BTC for approximately $1.1 billion. The company said the sale was primarily intended to fund the repurchase of convertible debt.
Historical holdings data from Bitcoin Treasuries shows that MARA held 53,822 BTC on February 26. Its reported bitcoin reserves subsequently declined, reaching 35,577 BTC by August 7.
The latest transfer adds to the publicly tracked movement of MARA's bitcoin holdings, although the transaction alone does not establish whether the company has completed another sale.
MARA Shares Rise as Bitcoin Recovers Above $82,000
MARA shares were up 2% in pre-market trading on Friday, reaching $10, according to the source report. The move coincided with Bitcoin recovering above $82,000 over the preceding 24 hours.
The report also listed MARA Holdings common stock at $9.91 and Galaxy Digital Class A common stock at $20.09 in its market data section. Those quoted figures were presented separately from the pre-market update.
Source: CoinDesk
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.