MARA Sells Bitcoin, Raises Debt to Fund Expansion

MARA, a Bitcoin miner and digital asset manager, has made significant changes to its treasury policy. In the first half of 2026, it sold 23,093 BTC at an average price of $70,631 per unit, earning approximately $1.6 billion.

This marks a shift from MARA's previous accumulation model to one that allows for sales based on market conditions and capital needs.

The company has also leveraged debt to fund its expansion, raising $600 million in bitcoin-backed loans through facilities with Coinbase Credit and Two Prime. The funds will be used for the acquisition of Long Ridge Energy in Ohio, valued at $1.5 billion.

MARA's net loss for the second quarter reached $611.3 million, compared to a gain of $808.2 million in the same period of 2025.