Marathon Digital Stock Plummets 6.5% Amid Massive Bitcoin Sales
Marathon Digital Holdings, Inc., a leading digital asset mining company, saw its stock price drop by around 6.5% after it sold about 23,093 Bitcoin worth $1.6 to $1.63 billion in early 2026 to manage expenses, repay debt, and fuel investments in artificial intelligence and energy infrastructure.
The majority of these transactions were used for convertible note repurchases, with the company securing $600 million in bitcoin-backed credit facilities by pledging 18,750 BTC as collateral with Coinbase and Two Prime.
Despite this move to raise liquidity, the stock remains under sustained bearish momentum, trading below its key short-, medium-, and long-term moving averages.
The price action has been under broader selling pressure, with immediate resistance standing at $9.70 and support near the intraday low of $9.42.