MARA Holdings Wallets Move $82.8M in Bitcoin to Binance and Gate Over 5 Days

Wallets linked to Bitcoin miner MARA Holdings $MARA deposited 1,000 Bitcoin $BTC, valued at about $82.8M, into Binance and Gate over a five-day period, according to on-chain tracker Lookonchain. This follows an October 9 transfer where MARA-linked wallets moved 996 BTC worth about $81.13M to a Galaxy Digital address, and an October 16 move where Hut 8 deposited 1,589 BTC worth $130M across exchanges over two days. While exchange inflows often precede liquidations, on-chain data only confirms the coins arrived at Galaxy, Binance, and Gate rather than verifying a completed sale, as holders also transfer assets to post collateral or adjust custody. The 1,000 BTC transfer equals roughly 2.8% of the 35,577 BTC that MARA held at the end of June, a reserve that included 9,270 BTC loaned out or pledged as collateral. MARA previously offloaded 15,133 BTC in March to buy back convertible debt and sold 2,213 BTC during the second quarter at an average price of $73,078, stating it expects to continue selling Bitcoin on an opportunistic basis. The latest deposits occurred as Bitcoin traded at $82,573, down 1.18% since October 1 and about 34.5% below its October 6, 2025 all-time high of $126,080 amid weaker ETF demand and thin liquidity.