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Mining Giant MARA Sold Nearly 21,000 BTC to Expand Into AI Sector
MARA Holdings announced the sale of a significant amount of Bitcoin to help finance its planned acquisition of Long Ridge Energy & Power. The deal is expected to significantly strengthen MARA’s capabilities in artificial intelligence and high-performance computing (HPC).
According to the company’s Q1 2026 report, MARA sold approximately 20,880 Bitcoin and generated around $1.5 billion in proceeds. Management stated that the company may continue monetizing its crypto reserves depending on market conditions and the funding needs of the Long Ridge transaction.
Company representatives stated:
“We expect the remainder of the transaction to be financed through a combination of existing cash, Bitcoin-backed credit facilities, and potentially further cryptocurrency sales.”
Previously, MARA had disclosed only the sale of 15,133 BTC worth roughly $1.1 billion in March 2026 to repurchase convertible debt. Updated figures revealed that the company sold an additional 5,700 BTC during the quarter.
Transition From Mining to AI Infrastructure
MARA used the proceeds from Bitcoin sales to repurchase more than $1 billion in debt obligations. The funds also allowed the company to reduce a $200 million credit facility and refinance another $150 million loan.
As of the end of March, MARA held 35,303 BTC valued at approximately $2.4 billion. However, the company’s reserves declined by more than 12,000 BTC compared to the previous year.
The company is also increasingly using its Bitcoin holdings as a financial instrument. According to management, around 28% of reserves were lent out or used as collateral, generating approximately $66.4 million in interest income during 2026.
The acquisition of Long Ridge is viewed as a central component of MARA’s broader strategy to transition from traditional Bitcoin mining into artificial intelligence and HPC infrastructure.
As part of this transformation, the company reduced its workforce by around 15%. At the same time, MARA reported a 2% year-over-year decline in Bitcoin production to 2,247 BTC during Q1, citing rising network difficulty and global hash rate growth.
It is worth noting that company representatives had denied reports back in March suggesting that MARA planned to aggressively liquidate its crypto reserves.
At the time, Robert Samuels stated:
“The claim that MARA Holdings has changed its strategy in order to sell the majority of our Bitcoin reserves is factually incorrect.”
Earlier reports also noted that MARA faced a lawsuit in Texas related to noise generated by one of its mining facilities.
