Mara Holdings, one of the largest publicly traded Bitcoin mining companies in the US, has boosted its Bitcoin treasury to 36,303 BTC. The addition of roughly 1,000 BTC comes during a year in which the company has otherwise been a net seller of the asset on a massive scale.
A year of dramatic drawdowns
MARA’s Bitcoin stash peaked near 53,822 BTC at the end of 2025. That means the company has shed roughly a third of its holdings since January, with the year-to-date net change clocking in at negative 17,947 BTC, a decline of about 33.7%.
The biggest single event driving that drawdown was a sale of 15,133 BTC in March 2026, which netted roughly $1.1 billion. The proceeds weren’t used for some speculative side quest. MARA deployed the capital to repurchase convertible senior notes maturing in 2030 and 2031, essentially cleaning up its debt stack.
Total Bitcoin sales in Q1 2026 reached approximately $1.5 billion. For a company that previously championed a “never sell” accumulation philosophy, that’s a seismic shift in posture.
