MARA Updates 2026 Bitcoin Strategy to Permit Sales of Balance-Sheet Holdings
MARA, the second-largest public holder of BTC, amended its 2026 digital asset strategy to permit selling bitcoin held on its balance sheet, expanding on its 2025 framework that only allowed sales of newly mined BTC, according to the disclosure. As of Dec. 31, 2025, the company held 53,822 BTC valued at $4.7B, including 9,377 BTC on loan and 5,938 BTC pledged as collateral for $350M in credit facilities. The loaned bitcoin generated $32.1M in interest income, while MARA also reported a $422.2M fair value decrease on its bitcoin position in 2025 due to lower market prices.