Bitcoin sales funded a post-quarter reduction in MARA Holdings’ secured debt, while the miner said it would continue using its Bitcoin holdings to raise cash for other capital needs.
According to a third-quarter shareholder letter cited by PANews on November 10, 2026, MARA repaid $750 million in Bitcoin-backed debt after the quarter ended. All BTC previously pledged against that debt was released. The company said less than 5% of its current Bitcoin holdings remained lent out or pledged.
Bitcoin holdings and quarterly results
As of September 30, MARA held 34,012 BTC. During the third quarter, it:
- Mined 2,247 BTC.
- Sold 3,891 BTC.
- Reported revenue of $164.2 million, down 35% year over year.
- Reported net income of $632.1 million.
The September 30 holdings figure predates the debt repayment described in the report. The source did not specify how much Bitcoin MARA sold after quarter-end to fund that repayment.
Further cash needs and buyback authorization
MARA said it would continue using Bitcoin to raise cash for AI infrastructure investment, potential repurchases of convertible notes under holder put rights exercisable in 2027, and possible share buybacks.
Its board also authorized a share repurchase program of up to $500 million. That figure is an authorization, not a reported amount already spent.
Original report: PANews, published November 10, 2026, at 05:24:35 (UTC+8).