According to its Q3 shareholder letter released Monday, Marathon Holdings sold 13,597 bitcoin for approximately $1.1 billion after the third quarter ended, with coins fetching roughly $81,039 each. The miner used $750 million of the proceeds to pay off all of its bitcoin-backed term loans, recovering 17,477 BTC that had been pledged as collateral. The sale represented approximately 40% of MARA's 34,012 BTC balance as of September 30. The company stated it intends to continue selling bitcoin to fund AI infrastructure opportunities, satisfy convertible note puts exercisable next year, and support potential share repurchases.

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