MARA Holdings Adds $98 Million in Bitcoin Through FalconX

MARA Holdings, a miner and developer of power and compute infrastructure, has added 1,292 Bitcoin to its treasury through FalconX. The transaction is worth approximately $98.64 million at current prices.

This latest purchase comes as Bitcoin trades below recent highs, with short-term holders sending more loss-making coins to exchanges. According to CryptoQuant data, about 23,200 BTC were sent to exchanges at a loss over the past 24 hours, the largest such transfer recorded in the past month.

The selling pressure on Bitcoin follows the U.S. Senate's rejection of the Digital Asset Market Clarity Act on September 15. The bill needed three-fifths support to advance but failed to pass the procedural threshold.

MARA's stock has been under pressure since JPMorgan downgraded it to Underweight and lowered its price target from $13 to $11.