MARA transfers $81.1 million in bitcoin to Galaxy Digital as strategy pivots to AI
In this news:
Key takeaways
- MARA transferred 996 bitcoin worth $81.1 million to Galaxy Digital.
- The transfer does not confirm an immediate sale of the digital assets.
- MARA is expanding into artificial intelligence and high performance computing.
Bitcoin miner MARA Holdings 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 executed a sale.
Corporate pivot to artificial intelligence
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.
Share the article:
Trending News & Crypto World
.png)
Latest Crypto News
Top Trending Cryptocurrencies on The Market
Current Price
$0.9995
Market Cap
$72.6B -0.03%
24h Volume
$15.6B
Supplies
72.6B / ∞
Current Price
$0.9992
Market Cap
$183.5B 0.00%
24h Volume
$50.7B
Supplies
189.1B / ∞
Current Price
$749.34
Market Cap
$99.8B 2.21%
24h Volume
$731.8M
Supplies
133.2M / 200.0M
Current Price
$1.382
Market Cap
$87.2B 4.92%
24h Volume
$1.3B
Supplies
100.0B / 100.0B
Current Price
$108.44
Market Cap
$64.0B 3.25%
24h Volume
$2.7B
Supplies
635.9M / ∞
Current Price
$0.3317
Market Cap
$31.5B 0.29%
24h Volume
$363.8M
Supplies
95.0B / ∞
Current Price
$1.025
Market Cap
$24.5B 0.64%
24h Volume
$363.6M
Supplies
24.0B / ∞
Current Price
$1,343.00
Market Cap
$22.9B 13.16%
24h Volume
$1.3B
Supplies
17.0M / 21.0M
Current Price
$81.520
Market Cap
$18.1B 2.90%
24h Volume
$663.3M
Supplies
955.3M / 1.0B
Current Price
$0.08348
Market Cap
$13.1B 4.06%
24h Volume
$589.2M
Supplies
156.3B / ∞
Current Price
$595.03
Market Cap
$11.2B -3.70%
24h Volume
$100.4M
Supplies
18.8M / ∞
Current Price
$1.001
Market Cap
$10.2B 0.03%
24h Volume
$133.7M
Supplies
10.2B / ∞