According to a recent SEC filing, MARA Holdings reduced its Bitcoin stack by around 18,250 BTC in only six months, closing the second quarter with 35,577 BTC as the company reduced its lending and collateral exposure.
As of June 30, the infrastructure company’s entire Bitcoin holdings were 35,577 BTC, down almost 34% from 53,822 BTC at the end of 2025. Both owned Bitcoin and Bitcoin receivables, which are Bitcoin that has been lent to counterparties or pledged as security, decreased as part of the drop.
Due to both declining holdings and fluctuations in Bitcoin values, MARA’s entire digital asset holdings were valued at more than $2 billion at the end of the quarter as opposed to about $4.7 billion six months prior.
After selling 20,880 BTC for almost $1.5 billion in Q1 of 2026, MARA’s Bitcoin strategy underwent a significant change. The profits were mostly used to improve the company’s balance sheet and reduce leverage by repurchasing about $1 billion in convertible debt.
The action put a halt to MARA’s full-HODL strategy, which had prioritized keeping all Bitcoin that had been mined and acquired. The corporation can now strategically monetize its Bitcoin holdings in accordance with its revised strategy in order to meet liquidity needs, lower debt, finance expansion plans, and achieve other business goals.
MARA has been expanding into AI and high-performance computer infrastructure in addition to its treasury shift. In addition to announcing plans to purchase the Long Ridge Energy & Power platform, the business purchased Exaion.
Following Strategy, Twenty One Capital and Metaplanet, MARA remains one of the largest corporate Bitcoin holder among publicly listed firms even after its Bitcoin sales.
MARA, the Largest Publicly Traded Bitcoin Miner, Reports 29% YoY Decline in Bitcoin Holdings to 35,577 BTC in Q2
MARA, the largest publicly traded Bitcoin miner, reported a 29% year-over-year decline in its Bitcoin holdings to 35,577 BTC in Q2 2026. Revenue fell 27% to $175… pic.twitter.com/NTzZcFdDZS
— Wu Blockchain (@WuBlockchain) August 7, 2026
Source: MARA Q2 2026 Update
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