Bitcoin · Decrypt
Bitcoin Miner MARA Sells $1.5 Billion in BTC, Posts $1.26 Billion Q1 Loss
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MARA Holdings, the Nasdaq-listed Bitcoin mining firm, sold 20,880 Bitcoin for $1.5 billion in the first quarter of 2026 as part of a strategic pivot from large-scale mining toward artificial intelligence and high-performance computing infrastructure.
Key facts
- The Bitcoin liquidation comes as MARA posted a $1.26 billion net loss in Q1 2026, more than double its $533 million loss a year earlier, according to earnings data
- Between March 4 and March 25, MARA sold 15,133 Bitcoin for approximately $1.1 billion specifically to fund convertible note repurchases, as previously reported
- MARA shares are down Tuesday following the earnings report, down more than 5% on the day at a recent price of $12.65 after dipping as low as $11.74 earlier in the day
- Long Ridge operates a 505-megawatt combined-cycle gas power plant in Ohio with over 1,600 contiguous acres, and is expected to generate $144 million in annualized EBITDA
Summary
MARA Holdings sold 20,880 Bitcoin for $1.5 billion in Q1 2026 to fund strategic initiatives. The firm used $1 billion from Bitcoin sales to retire 30% of its convertible debt, reducing leverage from $3.3 billion to $2.3 billion. Mara reported a $1.26 billion net loss for Q1, more than doubling its Q1 2025 net loss. The Bitcoin liquidation comes as MARA posted a $1.26 billion net loss in Q1 2026, more than double its $533 million loss a year earlier, according to earnings data.