MARA used proceeds from an October 2026 Bitcoin sale to fully repay a $750 million Bitcoin-backed loan and release 17,477 BTC from collateral, according to Odaily’s November 10, 2026 report. The debt repayment followed a third quarter in which mining output and energized hashrate rose year over year, but revenue declined.
October sale and debt repayment
MARA sold 13,597 BTC in October at an average price of approximately $81,039 per BTC, raising about $1.1 billion. The proceeds were used to fully repay the $750 million loan, freeing the pledged Bitcoin.
At the end of September, before that sale, MARA held 34,012 BTC, down 36% year over year. The reported decline mainly reflected Bitcoin sales in the first half of the year, with some proceeds used to repurchase convertible notes and repay credit obligations.
Higher mining output, lower revenue
MARA reported the following third-quarter 2026 results:
| Metric | Reported result | Year-over-year comparison |
|---|---|---|
| Bitcoin mined | 2,247 BTC | Up 5% |
| Energized hashrate | 71.2 EH/s | Up 18% |
| Revenue | $164 million | Down 35% |
| Net income | $632 million | Up from $123 million |
The rise in net income came as Bitcoin’s price increased approximately 43% from the end of the second quarter. Changes in the fair value of MARA’s Bitcoin holdings were recognized in earnings, making that accounting treatment important context for the profit figure rather than treating it as a measure of mining operating performance alone.
Original report: Odaily, published November 10, 2026, at 08:19:21 (UTC+8).