Marathon Digital transferred 1,318 BTC, worth about $86.9 million, to institutional wallets amid a recent price dip, underscoring an active treasury strategy. The move signals deliberate liquidity and custody management rather than immediate market selling.
Marathon Digital plunged 18.72% to $6.73 after transferring 1,318 bitcoins (about $87 million) to trading desks, coinciding with bitcoin slipping below miners' reported production cost. The sale raised concerns about increased miner selling pressure and margin stress across the sector.