MARA Holdings transferred 1,650 Bitcoin, worth approximately $132.8 million, to a group of institutional platforms on November 5, according to blockchain tracker Lookonchain. The recipients included Galaxy Digital, Copper and other venues. The movements arrive as the mining company broadens its plans for artificial intelligence and high-performance computing, although blockchain records do not establish whether the latest batch of coins was sold.

1,650 BTC Routed to Institutional Platforms

Lookonchain tracked the 1,650 BTC in transfers spread over roughly 12 hours, documenting the flow in a post on X. Galaxy Digital provides institutional trading services, while Copper offers digital asset custody and settlement services. MARA has not publicly identified the purpose of each transaction, nor has the company confirmed a sale tied to the transfers. Transfers of this kind can serve a range of treasury purposes, from sales and custody changes to lending and collateral arrangements.

The latest movements follow a previous round of Bitcoin activity reported for October 8–9, when MARA sent 996.105 BTC, valued at about $81.13 million, to a wallet linked to Galaxy Digital. Taken together, the two reported movements total approximately 2,646 BTC within four weeks.

Bitcoin Holdings Decline After First-Half Sales

MARA sold approximately 23,093 BTC during the first six months of 2026, according to its quarterly filing. The company received about $1.6 billion from those sales, at an average price of $70,631 per coin, and said the proceeds helped fund operations, support expansion and manage liquidity.

The miner held 53,822 BTC at the end of December 2025. Its holdings stood at 35,577 BTC on June 30, 2026, including 9,270 BTC assigned to digital asset management strategies. MARA also reported lending 4,742 BTC to third parties and pledging another 4,528 BTC as collateral at midyear. Holdings at that scale place MARA among the larger publicly disclosed corporate Bitcoin treasuries, which is one reason its wallet movements draw attention from on-chain trackers.

MARA's June filing valued its Bitcoin at approximately $2.1 billion at the period's closing market price and listed 26,307 BTC as unrestricted holdings during the reporting period. The company's next holdings report could clarify whether the recent transfers changed its treasury balance.

MARA Expands AI Computing Plans

MARA is developing its energy assets for uses beyond Bitcoin mining. The company acquired assets at the Long Ridge site in Ohio, including a gas-powered plant with 505 megawatts of nameplate capacity, and plans to build infrastructure that can support AI computing, high-performance computing and other power-intensive services.

In its first-quarter shareholder letter, MARA said it was considering roughly 90% of its non-hosted capacity for conversion to AI and critical computing uses. The company also described discussions with potential customers and a goal of signing leases before the end of 2026. These plans remain separate from its existing Bitcoin mining operations. The pivot mirrors a broader trend among publicly listed miners, several of which have repurposed power assets and data center capacity for AI and high-performance computing customers as those industries compete for large-scale power.

MARA expects to begin building its first AI and critical IT facilities at Long Ridge in the first half of 2027. The company targets mid-2028 for initial service and continues discussions with prospective tenants.

MARA stock closed November 4 at $6.87, down 4.05% for the session. A Simply Wall St analysis placed MARA's stock price-to-sales ratio near 3.3, below a peer-group average of 7.3. However, the research firm's fair-ratio model classified the shares as trading above its estimated valuation level.

Bitcoin Nears a Key On-Chain Reference Level

Bitcoin recently approached the average purchase price of short-term holders. In a November 3 post, analyst Ali Charts said BTC fell to $76,195, close to the short-term holder realized price of $75,875. That metric estimates the average acquisition cost of coins held for less than about 155 days.

Ali cited similar tests in March 2023, June 2023 and May 2024, when Bitcoin's price later recovered after approaching the same measure. The $75,875 area therefore marks a nearby reference level in Bitcoin price analysis, not a confirmed price floor. A sustained move below that line would put Bitcoin beneath the estimated cost basis of recent buyers.

The post Bitcoin News: MARA Transfers 1,650 BTC Worth $132.8M Amid AI Computing Pivot appeared first on The Market Periodical.