The firm, which held 53,822 Bitcoin at the close of 2025, sold around $413 million worth of Bitcoin last year, according to the filing. Its new strategy might have it offloading even more this year.
“Historically, we held the Bitcoin we produced as a long-term investment,” the firm wrote. “In the second half of 2025, we made a strategic change to our Bitcoin investment approach and opted to sell a portion of the Bitcoin produced from our mining operations to fund ongoing operating expenses, and continued to sell Bitcoin through the year end.”
“In 2026, we further revised the strategy to allow for the sale of Bitcoin held on our balance sheet, in addition to current production,” it added.
“While Bitcoin mining remains the foundation of our platform, we have expanded our footprint in energy generation and are investing in research and development to establish a presence in AI and adjacent markets, creating additional revenue opportunities over the long term,” its 10K filing reads.
And while its focus may be broadening beyond Bitcoin, the firm said it anticipates its holdings of the top crypto asset will go up over time.
“We expect that our future Bitcoin holdings will generally increase but will fluctuate from time to time, both in number of Bitcoin held and fair value in U.S. dollars,” its 10K reads. “We intend to add to our Bitcoin holdings primarily through our production activities and from time to time purchases.”
Shares of MARA are down more than 5% to $8.94 on Tuesday amid a broader market slide as Iran war concerns persist. Shares in the firm have dropped around 43% in the last six months.
