Mara Holdings, a mining company, sold $1.63 billion worth of bitcoin in the first half of 2026.

On Aug. 10, blockchain media outlet Cryptopolitan reported that Mara Holdings said in a 10-Q report it disposed of about 23,093 BTC in the first half ended June 30. The average selling price was about $70,631 per coin.

The amount sold accounted for about 34 percent of the 53,822 BTC that MARA held as of the end of 2025. Mara Holdings ranked second at the time by corporate bitcoin holdings.

MARA's bitcoin holdings fell to 35,577 BTC as of the end of the first half. Its current ranking by holdings is behind Strategy, Twenty One Capital and Metaplanet. The large sale also confirmed a change in the company's corporate bitcoin treasury strategy.

The company also disclosed how it used the proceeds. It said it put the funds into operations, securing growth opportunities and managing liquidity. With performance worsening in both quarters of the first half, it moved at the same time to secure cash and adjust its financial structure.

Mara Holdings' first-quarter revenue was $174.6 million, down 18 percent from a year earlier. With bitcoin prices falling, Mara Holdings sold 15,133 BTC for about $1.1 billion in the first quarter alone and used the funds to redeem convertible notes maturing in 2030 and 2031. The transaction reduced its outstanding debt to about $2.29 billion from $3.29 billion at the end of 2025 and saved $88.1 million in cash.

Weakness continued in the second quarter. Mara Holdings' second-quarter revenue was $174.9 million, down 27 percent from $238.5 million in the second quarter of 2025. It also missed the market estimate of about $209 million. After the second-quarter loss, it continued selling additional bitcoin to improve liquidity and reduce debt, with the amount put at $1.5 billion.

The bitcoin sales also tie into its business shift. Mara Holdings has reviewed ways to move away from a structure that keeps mining as its core business. In its first-quarter results release, the company said it does not expect to make additional purchases of special-purpose mining ASIC equipment. It is read as a signal that it will put more weight on other infrastructure investment than expanding mining facilities.

Mara Holdings is also working with Starwood Capital Group to convert mining sites into data centres for artificial intelligence and high-performance computing. The project was discussed as providing initial IT capacity of about 1 gigawatt, with options to expand to more than 2.5 gigawatts.

Restructuring followed. After the first-quarter bitcoin sale, layoffs took place across multiple departments over two days in early April. Poor performance, bitcoin sales, debt reduction and the shift to AI infrastructure formed a single flow.

As a result, the key points for Mara Holdings in the second half narrow to two tracks. The focus is how much of its remaining bitcoin holdings it will maintain and whether plans to convert mining assets into AI data centres will translate into an improved profit structure. The large first-half sale showed Mara Holdings is prioritising liquidity and business restructuring over expanding its bitcoin holdings.