Crypto
MARA Unloads 23K BTC for $1.6 Billion Amid Revenue Decline
Miner MARA sold 23,093 BTC for approximately $1.6 billion in the first half of 2023, according to a report.
The average price per coin was around $70,631 during this period.
MARA used the proceeds from these sales to finance operations and manage liquidity.
As of June 30, the company held 35,577 BTC valued at $2.08 billion, with a significant portion being involved in asset management strategies.
The revenue for the six months fell to $349.5 million from $452.4 million a year earlier due to a 23% drop in the average price of mined Bitcoin to $73,707.