MARA Unloads 23,093 BTC for $1.6 Billion Amid Treasury Strategy Shift

MARA has made a significant shift in its treasury strategy by selling 23,093 BTC for $1.6 billion. The company's revenue fell 23% as lower bitcoin prices weighed on mining income. MARA is now using the proceeds from these sales to fund operations and pursue growth opportunities.

The sale of BTC marks a deliberate policy change for MARA, which has expanded its treasury strategy to allow for disposals while retaining the option to hold or buy BTC depending on market conditions and capital needs.

MARA still mined 4,669 BTC during the first half, but six-month revenue dropped 23% to $349.5 million. The company's net loss reached $611.3 million in the second quarter, compared with an $808.2 million profit a year earlier.