MARA Holdings, the largest publicly traded US miner, updated its treasury policy, allowing the sale of bitcoin from its balance sheet depending on market conditions. Previously, the company only sold newly mined coins to cover operating expenses.
Last December, MARA reported holding approximately 53,822 BTC. The company is the second-largest corporate holder of Bitcoin after Michael Saylor’s Strategy. It also lent 9,377 BTC to counterparties, generating $32,1 million in revenue. Furthermore, the company pledged 5938 BTC as collateral for a $350 million loan.
Recent changes to MARA Holdings’ treasury policy give the company more flexibility in managing its Bitcoin holdings. The company can now sell not only coins obtained through mining but also those held directly on its balance sheet.
This decision was made amid growing pressure on the mining sector. And this trend is not unique to MARA. Another Bitcoin miner, Core Scientific, announced that it may sell up to 2,500 BTC by the end of the first quarter to fund the expansion of its AI-powered data center. The company currently ranks 35th by BTC reserves.