MARA Sells $1B In Bitcoin At A Loss To Pay Down Debt As Hedge Fund CIO Warns: 'Just The Beginning'

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The kicker: MARA disclosed separately that it bought 4,267 BTC in 2025 at an average price of around $111,000: roughly $45,000 above where the token trades today. Quinn Thompson, CIO of hedge fund ...

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As they become AI companies, they both need capital to fund the buildout and have no reason to hold Bitcoin anymore.\nOn-chain data from CryptoQuant backs him up. The Miners’ Position Index has climbed to a seven-day high, signaling a broader uptick in miner outflows beyond just MARA.\nBTC closed below $70,000 on Thursday and extended losses today, falling roughly 4% to $66,200. \nThe average all-in cost of mining a single BTC currently sits around $78,600. CoinShares’ latest report called Q4 2025 the most challenging quarter since the April 2024 halving and estimated publicly traded miners may derive 70% of revenues from AI by year-end.\nTeraWulf ended 2025 with 3 BTC on its balance sheet. IREN liquidates all mined Bitcoin daily. Cipher sold $214.7 million in BTC last year. MARA still holds 38,689 BTC after the sale, making it the largest remaining miner treasury and a potential source of further supply pressure.\nOn Polymarket, traders price a 51% chance BTC dips to $45,000, a 27% chance it hits $35,000 and only an 18% it regains $120,000 this year.\nMARA stock is down almost 8% today. \nMike Novogratz recently argued that Bitcoin has been trading well through the war in Iran. Bitcoin miners may be about to change that.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.38.0","shortVersion":"4.38.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622874340","isCrawlerRequest":true}