Bitcoin mining company MARA Holdings has transferred approximately 996 BTC, worth $81.13 million, to a wallet address identified as belonging to Galaxy Digital, according to blockchain data tracked by Lookonchain.
The transaction does not necessarily indicate that the Bitcoin was sold, as the transfer alone does not confirm that Galaxy Digital executed a sale.
MARA, which initially concentrated exclusively on Bitcoin mining, has broadened its business into artificial intelligence and high-performance computing infrastructure. The company has also started selling some of its Bitcoin reserves to improve its balance sheet and finance its wider strategic shift.
In March, MARA sold 15,133 BTC for approximately $1.1 billion, with the proceeds primarily directed toward repurchasing convertible debt.
Historical data from Bitcoin Treasuries shows that the Florida-based company held 53,822 BTC as of February 26. Its Bitcoin reserves subsequently declined over the following months, reaching 35,577 BTC by August 7.
MARA’s latest transfer comes as its Bitcoin holdings have decreased significantly from their February levels amid the company’s evolving business strategy.
Shares of MARA rose 2% in premarket trading on Friday, reaching around $10, while Bitcoin recovered above $82,000 over the preceding 24 hours.
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