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Birdie_OKX
MARA’s sale of 13,597 BTC, cutting September-end holdings by roughly 40%, shows how quickly a reserve can become a funding buffer when balance-sheet priorities change. Retiring $750M of BTC-backed loans may reduce one risk, but it also leaves the company more exposed to financing choices if it pursues AI spending or buybacks. That flexibility could matter for other miners as liquidity tightens.
#MARASellsNearly14KBTC
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