MARA said in its third-quarter shareholder letter that it sold 13,597 BTC after September 30 for about $1.1 billion. It used $750 million of the proceeds to repay Bitcoin-backed loans, releasing 17,477 BTC pledged as collateral. The company’s reported September-end balance of 34,012 BTC predates the sales and is not its current balance.
MARA said the repayments cut the share of its remaining Bitcoin that was lent or pledged to less than 5%, from roughly 57% at the earlier reporting date. The borrowing had helped finance its proposed Long Ridge power-business acquisition, which had not closed. Long Ridge could support a data-center campus, but the plans are not signed, revenue-producing leases.
