MARA transfers $81.1 million in bitcoin to Galaxy Digital as strategy pivots to AI

Bitcoin miner MARA Holdings MARA transferred approximately 996 $BTC ($81.13 million) to an address identified as belonging to Galaxy Digital, according to data tracked by Lookonchain.

While the coins were moved, the transfer alone does not confirm that Galaxy Digital GLXY executed a sale.

MARA, previously solely focused on bitcoin mining, it has since expanded into artificial intelligence and high-performance computing infrastructure. The company has already begun selling part of its substantial bitcoin treasury to strengthen its balance sheet and support its broader strategy. In March, it sold 15,133 $BTC for approximately $1.1 billion, primarily to fund the repurchase of convertible debt.

Hallandale Beach, Florida-based MARA held 53,822 $BTC on Feb. 26, according to Bitcoin Treasuries’s historical holdings data. Its holdings decreased steadily to 35,577 by Aug. 7.

MARA shares are 2% higher in pre-market on Friday to $10, as bitcoin has recovered above $82,000 over the past 24 hours.

Bitcoin News Related Stocks Market Closed MARA Holdings, Inc. Common Stock$9.9100— Galaxy Digital Inc. Class A Common Stock$20.09—