MARA Dumps 23K BTC in H1 2026: $1.63B Sale Slashes Treasury 34% to Fund AI Pivot MARA Dumps 23K BTC in H1 2026: $1.63B Sale Slashes Treasury 34% to Fund AI Pivot

Marathon Digital Holdings sold around 23,093 BTC in the first half of 2026, which brought in $1.6–1.63 billion at a price of about $70,600 per coin. The majority of the transactions—15,133 BTC worth almost $1.1 billion—occurred in March to repurchase convertible notes; the balance was distributed over Q1 and Q2. This forceful selling resulted in a 34% drop in MARA's Bitcoin inventory from around 53,800 BTC at the end of 2025 to 35,577 BTC by June 30, 2026.

The business carried out the sales as part of a conscious strategic change. While cash was diverted to AI, high-performance computing infrastructure, and energy initiatives, revenue was mostly used to reduce debt by purchasing back $1 billion in convertible notes. MARA also officially dropped its rigorous "HODL only" rule in favor of a hybrid treasury strategy allowing for occasional BTC sales and collateralized borrowing.

Though more than half of the holdings (18,750 BTC) have been promised as security for a $600 million loan, MARA is still among the biggest corporate Bitcoin owners as of mid-2026 with 35,577 BTC. The actions point to a larger shift away from simple Bitcoin mining and toward varied digital infrastructure and funding initiatives.