MARA Holdings sells $1.5 billion in Bitcoin to bolster liquidity and reduce debt amid its transition to A.I. infrastructure.
MARA Holdings sold $1.5 billion worth of Bitcoin to strengthen its balance sheet and retire debt as it expands into A.I.-focused data centers. The move follows the company’s strategic pivot away from crypto mining toward high-performance computing and artificial intelligence workloads.
The sale dropped MARA to the fourth-largest publicly traded Bitcoin holder, down from second place. First-quarter revenue fell 18% year-over-year to $174.6 million, while its net loss widened to $1.3 billion, driven by unrealized losses on its remaining Bitcoin holdings.
MARA stated it will no longer purchase specialized Bitcoin mining equipment, though it plans to maintain existing mining operations alongside new A.I. infrastructure. The company estimates 90% of its non-hosted mining capacity could support A.I. workloads. Shares traded at $13.39, down 16% over the past year.