Marathon Adjusts Bitcoin Treasury Monetization Strategy

Marathon Digital Holdings (MARA) said in its 2025 Form 10-K that it began selling portions of mined bitcoin in the second half of 2025 and will continue “opportunistic” monetization to fund operations, capital expenditures and AI/compute expansion. The company, the second-largest public holder with 52,850 BTC (about $3.5 billion), also uses bitcoin for lending and collateral.