MARA Holdings still has in its coffers 35,303 Bitcoin valued at roughly $2.84 
billion, making it the fourth largest corporate Bitcoin holder in the world. 
But that position comes after the company sold a significant chunk of its 
reserves — and investors took notice. Related Reading: Crypto Firm Exodus 
Drains 63% Of Its Bitcoin Reserves As Q1 Loss Doubled Year Over Year A Rough 
Quarter By The Numbers MARA&#8217;s stock dropped 5% during Tuesday&#8217;s trading 
session, touching an intraday low of $11.74 before closing around $12.65. 
After-hours trading brought another 1.85% decline. The sell-off followed the 
release of the company&#8217;s first-quarter 2026 earnings, which showed a net loss 
of $1.26 billion — more than double the $533 million loss recorded in the same 
period last year. Revenue came in at $175 million, down 18% from a year ago, 
partly due to falling Bitcoin prices. During the quarter, MARA sold 20,880 BTC 
worth nearly $1.5 billion. A large portion of those sales — 15,133 BTC sold 
between March 4 and March 25 for about $1 billion — went toward buying back 
convertible notes. About $1 billion of the proceeds were used to reduce the 
company&#8217;s convertible debt load from $3.3 billion to $2.3 billion, a reduction 
of roughly 30%. That transaction generated a $71 million gain from debt 
extinguishment. Shifting Away From Mining MARA is making a clear move away 
from aggressive Bitcoin mining. Officials said the company does not plan to 
make large-scale purchases of ASIC mining hardware going forward. About 90% of 
its non-hosted mining capacity can reportedly be converted into AI and IT 
infrastructure. The company said its strategy centers on placing new 
infrastructure alongside existing Bitcoin mining operations, allowing it to 
generate revenue from power assets while drawing on its operational experience 
in mining. The company is also cutting 15% of its workforce, a move expected 
to save $12 million annually. The biggest move, though, is the acquisition of 
Long Ridge Energy from FTAI Infrastructure. The deal is valued at close to 
$1.5 billion, including about $785 million in debt, and marks the largest 
acquisition in MARA&#8217;s history. Related Reading: Bitcoin Bulls Awaken As Rare 
Golden Cross Signal Flashes On Charts Long Ridge operates a 505-megawatt 
combined-cycle gas power plant in Ohio and sits on more than 1,600 contiguous 
acres. MARA projects $144 million in annualized EBITDA from the asset. Stock 
Performance In Context Despite Tuesday&#8217;s drop, MARA shares are up 30% over the 
past month. Strategy, the largest corporate Bitcoin holder, continues to buy 
while MARA sells and restructures — a contrast that reflects how differently 
companies in the space are approaching the current environment. Featured image 
from Unsplash, chart from TradingView

Bitcoin Miner MARA Stock Under Pressure Following $1.5 Billion Bitcoin Sell-Off

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Ethereum price started a fresh decline and traded below $2,265. ETH is now 
consolidating above $2,220 and might struggle to recover. Ethereum started a 
downside correction below the $2,265 zone. The price is trading below $2,280 
and the 100-hourly Simple Moving Average. There is a bearish trend line 
forming with resistance at $2,285 on the hourly chart of ETH/USD (data feed 
via Kraken). The pair could continue to move down if it stays below the $2,300 
zone. Ethereum Price Extends Losses Ethereum price failed to remain stable 
above $2,300 and started a fresh decline, like Bitcoin. ETH price dipped below 
the $2,280 and $2,265 levels. The price even traded below $2,250. A low was 
formed at $2,233, and the price is now consolidating losses. There was a minor 
upward move above the 23.6% Fib retracement level of the downward move from 
the $2,322 swing high to the $2,233 low. Ethereum price is now trading below 
$2,280 and the 100-hourly Simple Moving Average. Besides, there is a bearish 
trend line forming with resistance at $2,285 on the hourly chart of ETH/USD. 
If the bulls remain in action above $2,220, the price could attempt another 
increase. Immediate resistance is seen near the $2,265 level. The first key 
resistance is near the $2,285 level or the 61.8% Fib retracement level of the 
downward move from the $2,322 swing high to the $2,233 low and the trend line. 
The next major resistance is near the $2,320 level. A clear move above the 
$2,320 resistance might send the price toward the $2,350 resistance. An upside 
break above the $2,350 region might call for more gains in the coming days. In 
the stated case, Ether could rise toward the $2,400 resistance zone or even 
$2,420 in the near term. Another Drop In ETH? If Ethereum fails to clear the 
$2,285 resistance, it could start a fresh decline. Initial support on the 
downside is near the $2,250 level. The first major support sits near the 
$2,220 zone. A clear move below the $2,220 support might push the price toward 
the $2,180 support. Any more losses might send the price toward the $2,120 
region. The main support could be $2,080. Technical Indicators Hourly MACD – 
The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The 
RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,220 Major 
Resistance Level – $2,285

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Bitcoin Miner MARA Stock Under Pressure Following $1.5 Billion Bitcoin Sell-Off

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