MARA Holdings Loads Up on $98.64 Million Worth of Bitcoin Amid AI Slowdown Concerns

MARA Holdings has made its largest on-chain Bitcoin accumulation in nearly a year, purchasing 1,292 BTC worth $98.64 million through FalconX.

This move comes as AI industry leaders, including Anthropic's Dario Amodei and OpenAI's Sam Altman, raise concerns about the pace of frontier model development and potential existential dangers for humanity if unchecked.

MARA Holdings had shifted its focus towards AI infrastructure services earlier this year and sold 23,093 BTC worth $1.63 billion. The company now holds a total of 35,577 BTC, including 9,270 managed under its separate digital asset strategy, making it one of the largest public Bitcoin mining firms by treasury.

The purchase also coincided with the failure of the CLARITY Act to clear a Senate cloture vote, with Senators blocking the crypto bill in a narrow 50-49 procedural vote. This led to selloffs across the sector and caused some traders to view Bitcoin as a hedge against an AI slowdown.