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yesterday

Marathon Digital Moves 1,318 BTC to Institutional Counterparties During Crypto Selloff

The company describes the transfers as a treasury adjustment, prompting scrutiny over possible collateral posting or future sales.

Bitcoin miner mara moves $87 million btc to various trading desks and exchanges: arkham
Marathon digital moves $87m in btc as crypto markets slide
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Overview

  • On-chain data from Arkham shows Marathon shifted 1,318 BTC worth about $87 million over roughly 10 hours from miner wallets.
  • The largest leg sent 653.773 BTC (about $42 million) to Two Prime, with 200 BTC and 99.999 BTC routed to BitGo-linked addresses and roughly 305 BTC to a new wallet.
  • Bitcoin briefly touched around $60,000 during the activity and MARA shares fell about 18.7% in a single Nasdaq session.
  • Market observers note such flows can reflect custody changes, collateral posting, or trading strategies rather than immediate spot selling.
  • Mining pressures have intensified as daily revenue slid to about $32.6 million from $41.5 million and estimated average production cost sits near $87,000; Marathon still holds roughly 52,850 BTC.