MARA sells 13,597 bitcoin to repay its loans
The company said the remaining coins could fund AI datacenters and plans to sell more.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Bitcoin miner MARA sold 13,597 BTC for $1.1 billion in six weeks and paid off every loan backed by its bitcoin. The company said the remaining coins could fund AI datacenters and plans to sell more. Reports cite about $750 million in loans repaid.
Why it matters
The sale shows a bitcoin miner shifting its holdings toward AI datacenter power capacity. MARA's CFO said the firm owns roughly 1 gigawatt of power and plans to scale beyond 4 GW.
Timeline
- Nov 10, 12:18 AM ET: MARA sold 13,597 BTC for $1.1 billion in six weeks and paid off every loan backed by its bitcoin.
- Nov 10, 1:55 AM ET: MARA CFO Salman Khan said the firm owns roughly 1 gigawatt of power capacity, with a roadmap to scale beyond 4 GW.
Coverage
- MARA Sold 13,597 Bitcoin to Pay Off $750 Million in Loans. How Much Bitcoin Does It Have Left? (247wallst.com)
- MARA Holdings Touts Exploding AI Demand, Targets 4 GW Power Portfolio With Bitcoin Mining as Its 'Foundation'… (benzinga.com)
- Bitcoin miner MARA sold 13,597 BTC for $1.1 billion in six weeks, plans to sell more (coindesk.com)
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