MARA Transfers 1,650 BTC Worth $133 Million to Crypto Platforms

From wallets associated with the American mining company MARA Holdings, 1,650 BTC worth approximately $132.8 million were transferred over 12 hours. The transactions were identified on November 5, 2026. The recipients included institutional cryptocurrency platforms Galaxy Digital and Copper, as well as other addresses. There is no confirmation yet of the sale of the listed bitcoins.

The operations sparked speculation about a possible reduction in cryptocurrency reserves by MARA. However, the movement of assets to institutional platforms is not necessarily related to a sale. Such companies provide services for trading, storing digital assets, managing liquidity, and fulfilling financial obligations.

The purpose of the latest transfers by MARA has not been publicly disclosed. Therefore, it is impossible to determine whether the funds were intended for sale, changes in storage conditions, or other operations.

MARA has already transferred large amounts of BTC in October

The new transactions followed several large transfers in October. On October 9, approximately 996 BTC worth $81.13 million were sent from MARA addresses to a wallet associated with Galaxy Digital.

By October 19, additional transfers of 1,000 BTC worth approximately $82.8 million to the exchanges Binance and Gate were identified. The funds were transferred over the previous five days, but there was no confirmation of their subsequent sale.

At the end of the month, activity continued. On October 27, MARA transferred 1,000 BTC worth approximately $80.19 million to the digital asset storage platform BitGo. The next day, another transfer of 1,000 BTC worth approximately $80.66 million was made to the same company. The reasons for these operations were also not disclosed.

Meanwhile, MARA had indeed reduced its bitcoin reserves earlier. According to financial reports, in the first half of 2026, the company sold about 23,093 BTC, receiving approximately $1.6 billion. In the second quarter, the sales volume amounted to 2,213 BTC at an average price of $73,078 per coin.

As of June 30, MARA owned 35,577 BTC, of which 9,270 BTC were loaned or used as collateral. The company also reported that it considers mined bitcoins as a source of liquidity and may sell part of the reserves depending on financial needs.

Thus, previous confirmed sales do not allow for establishing the purpose of the new transfers. It is still unknown what portion of the 1,650 BTC sent could have been realized and whether these operations affected market quotes.