Second top US Bitcoin miner authorizes sale of entire BTC stash as MARA eyes $3.8 billion liquidity option

MARA Holdings may be poised to test the current BTC treasury meta. Major miners have been accumulating BTC as a strategic treasury rather than treating it as working capital. A shift could have implications that extend well beyond a single company. The company’s March 2 filing authorizes balance-sheet sales of its entire 53,822 BTC treasury, representing a complete reversal of its 2024 “retain all mined and pur…