MARA sold $1.5B in bitcoin and shifts focus to AI and computing infrastructure.

MARA Holdings sold 20,880 bitcoin in Q1 2026 for $1.5 billion, using $1.1 billion to repurchase convertible notes and improve liquidity. The company dropped to the fourth largest public BTC holder with 35,303 bitcoins remaining. MARA is repositioning itself as a digital infrastructure company, shifting focus from bitcoin mining to AI and high-performance computing, with plans to convert up to 90% of its mining capacity. It also agreed to acquire a 505-megawatt gas plant in Ohio for $1.5 billion to support AI data center development, reflecting a broader industry trend of miners pivoting to AI infrastructure.