Mining company MARA sold $1.1 billion worth of Bitcoin amid a 35% drop in revenue.
MARA reported that after the end of the third quarter it sold 13,597 BTC at an average price of $81,039, generating approximately $1.1 billion in revenue.
Of the funds received, the company allocated $750 million for the full repayment of loans secured in Bitcoin. This allowed the previously promised 17,477 BTC to be released.
MARA's revenues in the third quarter decreased by 35% compared to a year, to 164.2 million dollars. At the same time, the net profit amounted to 632 million dollars, mainly due to a profit of 885 million dollars from the revaluation of digital assets.
As of September 30, the company held 34,012 BTC, which is 36% less than a year earlier. During the quarter, MARA mined 2,247 BTC - 5% more than in the same period last year.