TLDR
- Lookonchain estimates 14 public companies disposed of 108,247 BTC during 2026.
- MARA Holdings disclosed approximately 40,581 BTC in sales during 2026.
- Riot Platforms confirmed selling 20,264 BTC through September 30.
- MARA and Riot account for 56.2% of Lookonchain’s reported disposals.
- MARA used $750 million in Bitcoin proceeds to repay collateralized loans.
MARA Holdings and Riot Platforms account for 56.2% of reported corporate Bitcoin sales in 2026. Lookonchain estimates 14 listed companies disposed of 108,247 BTC, valued at $8.08 billion. However, the broader total combines confirmed disposals with estimates and derivative-linked transactions.
14 public companies have sold 108,247 $BTC ($8.08B) in 2026!
MARA sold 40,581 $BTC ($3.03B) at an average price of $74,446, while Riot Platforms sold 20,264 $BTC ($1.51B) at an average price of $73,231. pic.twitter.com/XnjY0iGNpr
— Lookonchain (@lookonchain) November 10, 2026
MARA Uses Bitcoin Sales to Release Collateral
According to MARA’s November 9 quarterly filing, the miner sold approximately 26,984 BTC through September. It then sold 13,597 BTC after quarter-end, bringing disclosed 2026 sales to 40,581 BTC.
Those later transactions generated roughly $1.1 billion at an average $81,039 per bitcoin. MARA used $750 million to repay Bitcoin-backed loans, releasing 17,477 BTC pledged as collateral.
The miner held 34,012 BTC on September 30, with 19,260 BTC loaned or pledged. After repayment, MARA said fewer than 5% of its holdings remained similarly committed.
In 2025, MARA began permitting sales of newly mined Bitcoin. This year, it also authorized sales from its existing balance sheet. That policy change distinguishes recent disposals from routine production sales.
Management said it could monetize more Bitcoin to support liquidity and capital projects. Its shareholder letter identifies power assets and data-center development among its strategic priorities.
Riot Directs Bitcoin Proceeds Toward Data Centers
Riot’s November 4 filing confirms 20,264 BTC sold through September for $1.484 billion. That compared with 2,762 BTC sold over the corresponding 2025 period.
Riot said proceeds primarily supported data-center development and repayment of its $200 million credit facility. It also expects to sell nearly all newly mined Bitcoin to finance operations and expansion.
Riot ended September with 2,418 BTC, down from 18,005 at the start of the year. The difference also reflects mining production and other Bitcoin movements, not sales alone.
Riot issued no new shares through its at-the-market offering during 2026’s first nine months. Its reliance on Bitcoin sales offers one documented alternative to issuing new equity.
Aggregate Sales Figures Need Careful Interpretation
The estimated 108,247 BTC total requires qualification. Lookonchain identifies Bitdeer’s 10,553 BTC figure as estimated outflows, not individually documented sales. The tracker also includes 3,654 CleanSpark BTC delivered through options exercises or basis trades.
CleanSpark’s monthly disclosures separately classify spot transactions and derivatives-related disposals. These distinctions matter when comparing direct market selling with balance-sheet transfers and contract settlements. Neither the compiled totals nor the filings establish that all coins reached exchanges simultaneously.
