Bitcoin miner MARA Holdings moved another 1,000 BTC, worth about $81 million, to the custodian BitGo early on Wednesday, October 28, its second such transfer in two days, on-chain tracker Lookonchain spotted. The company sold 23,093 BTC in the first half of the year to cut debt, so traders watching BTC USD near $81,500 read every move as a possible sale.
Bitcoin mining company MARA Holdings (@MARA) transferred another 1,000 $BTC ($80.66M) to BitGo 9 hours ago.https://t.co/tv5jDUw7r1 pic.twitter.com/vAd55oPNWx
— Lookonchain (@lookonchain) October 28, 2026
So far the price hasn’t flinched. BTC is up 2% in 24 hours. But the blockchain shows the first of the two BitGo lots has already been split up and sent on.
MARA sent two lots of exactly 1,000 BTC, and one of them has already moved on. A check of both transactions on mempool.space shows:
- October 26, 18:16 UTC: 1,000 BTC left a MARA wallet (bc1qjp40…5355) for the BitGo address in block 973,265.
- October 28, 00:24 UTC: another 1,000 BTC left a second MARA wallet (bc1qly0q…fnvpt) for the same BitGo address in block 973,474.
Both lots had sat untouched since October 7 and 8, 2025, when Bitcoin traded above $121,000. At today’s price, they are worth about a third less.
At 07:13 UTC on Wednesday, the BitGo address split the first lot into 16 pieces of 21.5 to 108.5 BTC, each sent to a new address. That is a common pattern when coins are being delivered to several buyers, but none of the receiving addresses is labeled. The blockchain alone doesn’t prove a sale.
The second lot is still at the BitGo address. MARA’s filings say it sells the bitcoin it mines on an ongoing basis and may sell more of its holdings from time to time.
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How Much Bitcoin Has MARA Moved This Month?
About 3,996 BTC, worth roughly $326 million at today’s price. Before the two BitGo lots, Lookonchain had flagged 996 BTC sent to Galaxy Digital on October 8 and 1,000 BTC sent to Binance and Gate between October 14 and 19.
That is about 11% of the 35,577 BTC MARA reported at the end of June, and about five times what it mines in a month. MARA mined 2,422 BTC in the second quarter, or about 807 a month, and sold 2,213.
The bigger picture is a company shrinking its stack. MARA’s second-quarter 10-Q shows the 35,577 BTC it held on June 30, against 53,822 BTC at the end of 2025, after it sold about 23,093 BTC for $1.63 billion in the first half, mostly to buy back convertible notes. Of what was left, 4,528 BTC was pledged as collateral and 4,742 BTC was lent out. MARA is also buying a 505-megawatt gas plant in Ohio and weighing whether to move up to 90% of its own mining capacity to AI computing.
MARA hasn’t yet announced a date for its third-quarter results. Last year it reported on November 4, and that letter is where any October sales would first show up.
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BTC USD Price Analysis: Can Bitcoin Clear Its 4-Hour 200 EMA?
It is testing it now. BTC USD trades at $81,577 on Binance, above its 4-hour 50 EMA at $81,110 and just under the 4-hour 200 EMA at $81,705, after touching $81,823 this morning.
- Resistance: $84,898, the October 21 high and the top of this month’s last rally.
- Support: $79,221, the October 24 low, which held through three dips this week.
| Path | What has to happen | Next stop |
|---|---|---|
| Push higher | A 4-hour close above $81,705, the 200 EMA | $84,898, the October 21 high |
| Stall | Holding between $79,221 and $81,705 | More sideways trade around the 50 EMA at $81,110 |
| Slip | A daily close below $79,221 | $76,443, the daily 200-day EMA |
About $326 million in a month is a lot for one miner, but small next to the $23.9 billion that traded in the last 24 hours. The address to watch is BitGo’s: if the second lot gets split up the same way, the pattern will be hard to read as anything but selling.
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