Key Takeaways
- • Lookonchain flagged MARA Holdings transferring 996 BTC, worth approximately $81.13 million, to a wallet identified as belonging to Galaxy Digital on Friday, October 9, 2026.
- • It remains unclear whether MARA sold the Bitcoin or moved it for another purpose, according to the report.
- • MARA's Bitcoin holdings fell from 53,822 BTC in February to 35,577 BTC in August, per Bitcoin Treasuries data, after it sold 15,133 BTC for about $1.1 billion in March.
- • Bitcoin fell close to $81,000, with total crypto liquidations reaching $1.03 billion across 174,088 traders over 24 hours.
- • U.S. spot Bitcoin ETFs recorded $484.9 million in outflows on October 7 and another $244 million on October 8.
Summary
MARA Holdings has transferred 996 Bitcoin, worth approximately $81.13 million, to a wallet identified as belonging to Galaxy Digital, according to blockchain tracking platform Lookonchain, which flagged the transaction on Friday, October 9, 2026. The report notes it remains unclear whether MARA sold the coins or moved them for another purpose. The transfer coincides with the company's continued shift toward artificial intelligence and high-performance computing.
According to Bitcoin Treasuries data cited in the report, MARA's Bitcoin holdings declined from 53,822 BTC in February to 35,577 BTC in August. In March, the company sold 15,133 BTC for about $1.1 billion, using the proceeds mainly to repurchase more than $1 billion in convertible debt at a discount, reducing its debt and potential future share dilution.
MARA is expanding beyond traditional Bitcoin mining into AI computing and data center infrastructure, where it can supply computing power to businesses. In February, the company announced a partnership with Starwood Capital Group to develop digital infrastructure sites for data center and AI customers, encompassing about 1 gigawatt of near-term IT capacity with potential for further expansion. The report says the latest transfer could fit this broader treasury strategy but does not confirm another sale.
The transfer occurred amid renewed selling pressure in the crypto market. Bitcoin fell close to $81,000, and total liquidations reached $1.03 billion over the prior 24 hours, affecting 174,088 traders. U.S. spot Bitcoin ETFs also saw outflows of $484.9 million on October 7 and $244 million on October 8.
According to Bitcoin Treasuries data cited in the report, MARA's Bitcoin holdings declined from 53,822 BTC in February to 35,577 BTC in August. In March, the company sold 15,133 BTC for about $1.1 billion, using the proceeds mainly to repurchase more than $1 billion in convertible debt at a discount, reducing its debt and potential future share dilution.
MARA is expanding beyond traditional Bitcoin mining into AI computing and data center infrastructure, where it can supply computing power to businesses. In February, the company announced a partnership with Starwood Capital Group to develop digital infrastructure sites for data center and AI customers, encompassing about 1 gigawatt of near-term IT capacity with potential for further expansion. The report says the latest transfer could fit this broader treasury strategy but does not confirm another sale.
The transfer occurred amid renewed selling pressure in the crypto market. Bitcoin fell close to $81,000, and total liquidations reached $1.03 billion over the prior 24 hours, affecting 174,088 traders. U.S. spot Bitcoin ETFs also saw outflows of $484.9 million on October 7 and $244 million on October 8.
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