MARA Holdings and Riot Platforms accounted for 56.2% of the corporate Bitcoin sales reported in 2026, according to figures published by the on-chain analytics service Lookonchain. The tracker estimates that 14 listed companies disposed of 108,247 BTC over the year, a combined total valued at $8.08 billion — one that blends confirmed disposals with estimates and derivative-linked transactions. For readers following miner behavior, the filings behind these totals document a year in which listed mining companies increasingly treated their Bitcoin treasuries as an active financing channel rather than as holdings reserved solely for accumulation.

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

By Lookonchain's calculations, MARA's sales averaged $74,446 per bitcoin for proceeds of roughly $3.03 billion, while Riot's averaged $73,231 per bitcoin for $1.51 billion.

MARA Uses Bitcoin Sales to Release Collateral

According to MARA's November 9 quarterly filing, the miner sold approximately 26,984 BTC through September, then sold another 13,597 BTC after the quarter closed, bringing disclosed 2026 sales to 40,581 BTC. Those later transactions generated roughly $1.1 billion at an average of $81,039 per bitcoin.

MARA directed $750 million of its proceeds toward repaying Bitcoin-backed loans, releasing 17,477 BTC that had been pledged as collateral. The miner held 34,012 BTC on September 30, with 19,260 BTC loaned or pledged; after repayment, the company said fewer than 5% of its holdings remained similarly committed. The change matters for treasury flexibility: coins free of lender claims are available for whatever use the company chooses — further sales, spending, or repledging — without first settling debt.

The sales also reflect a policy shift. In 2025, MARA began permitting sales of newly mined Bitcoin, and this year it authorized sales from its existing balance sheet as well — a change that distinguishes recent disposals from routine production sales. Management said it could monetize more Bitcoin to support liquidity and capital projects, and its shareholder letter identifies power assets and data-center development among its strategic priorities. With management explicitly leaving room for further monetization, MARA's subsequent quarterly disclosures are where any continuation of balance-sheet sales will first be documented.

Riot Directs Bitcoin Proceeds Toward Data Centers

Riot's November 4 filing confirms 20,264 BTC sold through September for $1.484 billion, up from 2,762 BTC sold over the corresponding 2025 period — roughly a sevenfold increase in the pace of treasury sales year over year. The company said proceeds primarily supported data-center development and repayment of its $200 million credit facility, and it 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 — a difference that also reflects mining production and other Bitcoin movements, not sales alone. The company issued no new shares through its at-the-market offering during the first nine months of 2026, making its reliance on Bitcoin sales one documented alternative to issuing new equity. Subsequent filings will show how this funding pattern develops against the company's remaining balance.

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 rather than individually documented sales, and 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. For anyone tracking these flows going forward, the primary documents remain the most reliable checkpoints: MARA's and Riot's quarterly filings for individually reported disposals, and CleanSpark's monthly disclosures for the split between spot sales and derivatives-linked deliveries.