MARA Holdings (MARA) Stock Plunges 5% Following $1.5B Bitcoin Liquidation
Marathon Digital Holdings, Inc., MARA The equity reached an intraday bottom of $11.74 immediately after the earnings announcement before staging a modest rebound. Extended trading saw an additional 1.86% decline. First-quarter revenue totaled $174.6 million, representing an 18% year-over-year decrease. The net deficit of $1.26 billion more than doubled the $533 million shortfall recorded during the equivalent period last year. Bitcoins valuation declined approximately 22% throughout the quarter, significantly impacting financial performance. Despite Tuesdays setback, MARA shares have appreciated roughly 32% over the trailing 30-day period. Major Bitcoin Liquidation Details MARA divested 20,880 BTC at a mean price of $70,137 per token during Q1, realizing approximately $1.5 billion in total proceeds. The majority of these transactions—15,133 BTC generating about $1.1 billion—occurred between March 4 and March 25. These funds were strategically allocated to repurchase the companys convertible notes, reducing convertible obligations from approximately $3.3 billion to $2.3 billion, representing a 30% contraction. This debt restructuring produced a $71 million accounting gain. Following these dispositions, MARA fell from second to fourth position among publicly listed Bitcoin holders. The company maintains 35,303 BTC in treasury, currently valued at approximately $2.84 billion. Strategic Transformation Toward AI Infrastructure MARA is executing a fundamental business model transformation, rebranding itself as “a digital infrastructure company







