MARA Holdings Buys 1,292 Bitcoins for $100 Million Amid Mining Profit Woes
MARA Holdings, a leading bitcoin mining company, has made a significant purchase of 1,292 bitcoins for approximately $100 million. According to blockchain data from Arkham Intelligence, the transaction was facilitated through FalconX's over-the-counter desk.
The total deal size was $98.64 million, with an average purchase price of $76,347 per coin. This move is notable given MARA's aggressive sales of bitcoin in the past six months to reduce debt and raise funds for new businesses.
In the first half of 2026, MARA sold over 20,880 bitcoins, totaling around $1.5 billion, to fund high-performance computing (HPC) and AI data centre construction, as well as early repayment of convertible bonds maturing in 2030 and 2031.
The company's operating wallet balance fell to 9,658 bitcoins, worth approximately $729.7 million at a bitcoin price of $75,494. This purchase comes amidst worsening profitability across the mining industry, with listed mining companies' average cost to mine one bitcoin rising to $75,500 in the second quarter of 2026.
The current market conditions, including declining hashprices and equipment cancellations, suggest a challenging environment for miners. MARA's strategy of holding onto bitcoin as a core financial asset while expanding into AI data centre expansion is seen as a key aspect of this transaction.