MARA Holdings transferred 1,650 BTC, valued at roughly $132.8 million, to Galaxy Digital, Copper and several other platforms around November 5, 2026. The operation brought the total sent to institutional platforms to more than 2,600 BTC over four weeks, following a transfer of 996.105 BTC to Galaxy Digital on October 8 and 9. These movements did not formally result in sales, but they show the company increasingly using its Bitcoin reserve as a funding source. In the first half of 2026, MARA sold 23,093 BTC for approximately $1.6 billion, reducing its holdings from 53,822 BTC at the end of 2025 to 35,577 BTC as of June 30, 2026. The company is therefore reducing its direct Bitcoin exposure while pivoting toward artificial intelligence and high-performance computing, with 9,270 BTC allocated to digital-asset management strategies at mid-year.
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