Bitcoin miner MARA Holdings (MARA Holdings) bought 1,292 bitcoin for about $100 million.

The blockchain outlet U.Today reported on Sept. 16 that the purchase was confirmed in Arkham Intelligence on-chain data.

The transaction was conducted through FalconX’s over-the-counter desk. The total deal size was $98.64 million and the average purchase price was $76,347 per coin. Given that MARA has aggressively sold bitcoin over the past six months, the transaction is seen as reversing its existing asset-management stance.

MARA was a net seller in the first half of 2026. The company sold more than 20,880 bitcoin to reduce debt and raise funds for new businesses. The sales totalled about $1.5 billion. The funds raised were used for high-performance computing (HPC) and AI data centre construction, and early repayment of convertible bonds maturing in 2030 and 2031. In the process, the balance in MARA’s operating wallet fell to 9,658 bitcoin. At a bitcoin price of $75,494, that is worth about $729.7 million.

It is also notable that the purchase comes as profitability across the mining industry worsens. CoinShares data showed that listed mining companies’ average cost to mine 1 bitcoin rose to $75,500 in the second quarter of 2026. By contrast, bitcoin’s price at the end of the quarter stood at $58,400, pushing industry-wide profitability below break-even.

Mining economics indicators also deteriorated. The average hashprice in June fell to a record low of $27.7 per PH/s per day. Core Scientific paid $41.9 million to cancel an equipment order of 15 exahash per second (EH/s), and some smaller miners began procedures to cease operations.

Against this backdrop, MARA again made clear its strategy of pursuing AI expansion while holding bitcoin. It has aggressively sold assets over the past six months to expand AI, but the $100 million purchase is interpreted as a shift in direction.

The purchase again confirms a structure in which MARA pursues AI data centre expansion and a bitcoin-holding strategy at the same time. The key point of the transaction is that it aims to keep bitcoin as a core financial asset even as mining profitability deteriorates.