MARA-Linked Wallets Transfer 1,000 Bitcoin to Exchanges

Wallets linked to MARA Holdings transferred 1,000 bitcoin, worth about $82.8 million, to cryptocurrency exchanges over five days, according to blockchain tracking cited in reports published Monday. The transfers were reported as deposits to Binance and Gate, but the available transaction records do not establish that MARA sold the coins. The company has not confirmed a sale or explained the purpose of the movements. The transfers were flagged by Lookonchain, which tracks blockchain activity. The reported 1,000 BTC is about 2.8% of the 35,577 BTC MARA said it held at June 30. That comparison does not indicate how much, if any, was sold. Exchange deposits can precede a sale but can also be used for trading, collateral or other purposes. MARA’s recent financial disclosures show that it has sold bitcoin previously. The company reported selling 2,213 BTC in the second quarter at an average price of $73,078, and said it expected to continue selling opportunistically. It also reported selling 15,133 BTC in March for about $1.1 billion to support repurchases of convertible notes due in 2030 and 2031. The company’s second-quarter reporting put its June-end bitcoin holdings at 35,577...