MARA Holdings has transferred 996.105 Bitcoin worth approximately $81.13 million to Galaxy Digital, according to blockchain transaction data flagged by onchain analytics platform Lookonchain. The transfer was recorded approximately 10 hours before the Arkham Intelligence screenshot shared in the post, with the receiving address labeled Galaxy Digital (bc1qv) and the sending address identified as MARA Miner (32i1m). As reported by Lookonchain, the analytics firm suggested that the U.S. Bitcoin mining company may have sold the assets, though blockchain records have not confirmed that the assets were actually sold on the open market. The transaction occurred while Bitcoin market momentum remains mixed, with no notable trading volume in the following 24 hours.
The latest transfer represents part of MARA's broader strategy to reduce its Bitcoin holdings and strengthen its balance sheet. According to Bitcoin Treasuries' historical holdings data, MARA's Bitcoin treasury declined by 18,245 BTC between February and August, falling from 53,822 BTC on February 26 to 35,577 BTC by August 7. The company has already begun selling portions of its substantial Bitcoin holdings to support its expansion into artificial intelligence and high-performance computing infrastructure. In March, MARA sold 15,133 BTC for approximately $1.1 billion, primarily to fund the repurchase of convertible debt, demonstrating its commitment to diversifying beyond traditional Bitcoin mining operations.
The latest movement of 996.105 BTC was equivalent to roughly 2.8% of MARA's reported holdings as of June 30, 2026, when the company held 35,577 BTC. According to MARA's second quarter 2026 shareholder letter, during the quarter the company sold 2,213 BTC and had another 4,742 BTC deployed through lending arrangements. The company has previously sold portions of its Bitcoin holdings while continuing to mine and accumulate new coins, with Bitcoin production reaching 2,422 BTC during the quarter and an energized hashrate of 70.3 EH/s.
Bitcoin price remained under pressure on October 9, trading near $82,300 after several days of losses, with the cryptocurrency falling from around $85,578 on October 6 to $81,706 at the October 8 daily close. Technical indicators showed the 14-day Relative Strength Index around 49, indicating neutral momentum but leaving room for further selling before Bitcoin enters oversold territory. Bitcoin was trading below its 10-day and 20-day exponential moving averages at $83,734 and $83,226 respectively, both carrying sell signals. The MACD remained below its signal line, indicating that bearish momentum had not fully faded despite recent price recovery.
MARA's reported Bitcoin movement follows several large treasury transactions earlier in 2026, including sales, collateral arrangements and transfers to institutional counterparties. The company has expanded beyond its traditional Bitcoin mining operations into artificial intelligence and high-performance computing infrastructure. MARA's Bitcoin holdings stood at 35,577 BTC at the end of June, compared with 49,951 BTC a year earlier. The company's shares are trading 2% higher in pre-market on Friday to $10 as Bitcoin has recovered above $82,000 over the past 24 hours, reflecting investor confidence in the company's strategic pivot.
