MARA Holdings, the largest publicly traded Bitcoin miner, unexpectedly purchased 1,292 BTC worth about $100 million, as confirmed by on-chain data from Arkham Intelligence. This transaction marked a sharp turn for the company, which had been actively selling off its assets over the past six months to fund a large-scale expansion in artificial intelligence (AI). The transaction amounted to $98.64 million, with an average purchase price of $76,347 per coin.
In the first half of 2026, MARA acted as a net seller, offloading more than 20,880 BTC worth approximately $1.5 billion. These funds were used to pay off debts and finance the company's new direction– the construction of data centers for high-performance computing and AI. Thanks to the revenue generated, MARA was able to redeem its convertible bonds ahead of schedule, which were due to mature in 2030-2031. Despite the focus on AI expansion, the company has not abandoned blockchain mining: to date, its operational wallets hold 9,658 BTC, equivalent to $729.7 million at the current Bitcoin price of $75,494.
MARA's purchase comes amid intense pressure on the crypto industry. According to CoinShares, in the second quarter of 2026, the average cost of mining one BTC for public miners increased to $75,500, while the price of Bitcoin at the end of the quarter was $58,400, negatively impacting the sector's profitability. In such conditions, companies are forced not only to seek ways to increase revenue but also to optimize their expenses. Specifically, Core Scientific paid $41.9 million to cancel an order for equipment with a capacity of 15 EH/s, and a number of smaller miners are considering winding down operations. MARA's return to active purchases confirms the successful implementation of a hybrid business model, where AI serves as the technological foundation, and Bitcoin remains the main financial asset on the company's balance sheet.
Related articles
