Bitcoin miner MARA Holdings sold Bitcoin after the end of the third quarter to repay $750 million in Bitcoin-backed debt, according to its third-quarter shareholder letter cited by Jinse Finance on November 10, 2026. The company also authorized a share repurchase program of up to $500 million.
Debt repayment releases pledged Bitcoin
MARA said all BTC previously pledged against the repaid debt had been released. Less than 5% of its Bitcoin holdings were currently lent out or pledged.
The company said it would continue using Bitcoin to raise cash for AI infrastructure investment, potential share repurchases and convertible-note put obligations exercisable in 2027. The buyback authorization does not establish how much stock the company will ultimately repurchase.
Third-quarter holdings and results
As of September 30, 2026, MARA held 34,012 BTC. During the third quarter, it mined 2,247 BTC and sold 3,891 BTC.
Quarterly revenue was $164.2 million, down 35% year over year, while net income was $632.1 million. The Bitcoin sales used to repay the $750 million debt occurred after quarter-end and are distinct from the sales reported for the third quarter.
MARA’s stated plans indicate that Bitcoin remains a source of funding for its corporate obligations and investment plans. The report does not specify the amount or timing of future Bitcoin sales.
Original report: Jinse Finance, published November 10, 2026, at 06:23:05 (UTC+8). The report cites MARA’s third-quarter shareholder letter.