MARA Sends $82.8 Million in Bitcoin to Exchanges During a Shaky October

MARA Holdings appears to be selling Bitcoin (BTC) again as the market swings through October. Wallets linked to the miner sent 1,000 BTC to Binance and Gate over 5 days.

On-chain tracker Lookonchain flagged the deposits, the second large MARA transfer it has spotted this month.

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Bitcoin mining company MARA Holdings (@MARA) appears to be selling $BTC.Wallets linked to #MARA deposited 1,000 $BTC ($82.8M) into #Binance and #Gate over the past 5 days.https://t.co/7paYjsC4h9 pic.twitter.com/4jTrsGnMwB

— Lookonchain (@lookonchain) October 19, 2026

MARA Holdings Sends Bitcoin to Exchanges Again in October 2026 

Lookonchain valued the latest deposits at about $82.8 million. The first transfer came on October 9, when Lookonchain flagged 996 BTC, worth about $81.13 million, moving from MARA to a Galaxy Digital address.

Neither transfer confirms a sale. On-chain data shows the coins arriving at Galaxy, Binance, and Gate, but not whether anyone sold them. Holders also move coins to exchanges and trading desks to post collateral or change custody.

MARA’s own filings show how much room it has to sell. The miner held 35,577 BTC at the end of June, according to its second-quarter letter to shareholders. That total included 9,270 BTC loaned out or pledged as collateral.

MARA sold 2,213 BTC that quarter at an average price of $73,078. It also said it expects to keep selling Bitcoin on an opportunistic basis.

The latest 1,000 BTC equals roughly 2.8% of those June holdings. Larger sales came earlier, when MARA offloaded 15,133 BTC in March to buy back convertible debt.

Heavy miner selling is not new. Public miners sold a record 32,000-plus BTC in the first quarter, BeInCrypto reported.

Large miner deposits have continued this month. On October 16, Lookonchain also flagged Hut 8 depositing 1,589 BTC, worth $130 million, across several exchanges over 2 days.

Bitcoin Catches a Lift as Oil Cools

The new deposits hit exchanges as Bitcoin clawed back some ground on Monday. The cryptocurrency traded at $82,573 at press time, up 1.07% in 24 hours, BeInCrypto Markets data showed.

The gain lined up with a pullback in crude. Brent touched $110 on Friday for the first time since May. It thendropped over 2.2% to $107.95 a barrel at press time, while US crude dropped 2.07% to $99.2.

Equity futures also recovered from last week’s chip selloff. Nasdaq 100 contracts gained 1% earlier today. S&P 500 futures were also up 0.7%.

Still, Bitcoin is down 1.18% since October 1. It trades about 34.5% below its $126,080 all-time high from October 6, 2025. BeInCrypto flagged thin liquidity, weaker ETF demand, and war risk as October headwinds.

MARA’s third-quarter results should show how many of the deposited coins were sold.

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