Marathon Digital Shares Drop 18% After Moving 1,318 BTC to Trading Desks
Marathon Digital's stock fell sharply Thursday after the miner moved 1,318 BTC — roughly $87 million at the time — to trading desks, sending MARA down 18.72% to $6.73. The transfer came as bitcoin dipped below estimates of miners' production cost, a threshold that can prompt opportunistic or necessity-driven sales and amplify downside pressure on both the token and miner equities.
The episode matters because concentrated transfers from large miners can signal liquidity needs or risk management steps that exacerbate short-term volatility. Investors will be watching Marathon's balance-sheet disclosures and production-cost trends for signs of sustained selling or changes to hodling policies. Broader market participants say continued pressure below production cost could force other miners to liquidate reserves, keeping crypto equities and BTC prices under strain in the near term.