MARA Holdings, the largest Nasdaq‑listed publicbitcoin miner by BTC held, has revised its treasury policy for 2026. The updateallows potential sales of its accumulated bitcoin reserves.In a Form 10-K filed with the U.S. Securities and ExchangeCommission on Monday, the company said it expanded its digital asset managementstrategy to include the sale of bitcoin held on its balance sheet. This moverepresents a notable shift from MARA’s prior approach of retaining minedbitcoin as a long-term investment.MARA’s revision follows a period in which the companyemphasized accumulation. In 2024, itannounced a full-HODL approach to retain mined bitcoin and makeopportunistic purchases. The company later raised substantial capital throughconvertible notes, largely aimed at increasing its bitcoin holdings.Nasdaq Miner Updates Digital Asset PolicyThe company wrote: “In the second half of 2025, we changedour digital asset management strategy to permit sales of bitcoin generated fromoperations, and in 2026, we expanded the strategy to allow for sales of bitcoinheld on our balance sheet.”It added: “Accordingly, we may hold bitcoin for long-terminvestment purposes and may also buy or sell bitcoin from time to time, subjectto market conditions and our capital allocation priorities.”According to the filing, the digital asset managementstrategy includes treasury holdings, lending arrangements, trading activities,and collateralized borrowing.BREAKING: The largest publicly traded Bitcoin miner, MARA Holdings, is planning to SELL the majority of its Bitcoin reserves.MARA has just updated its treasury policy to allow sales of its accumulated BTC. The company currently holds 53,822 BTC, worth roughly $4.7 billion… pic.twitter.com/OTF7sALn5g— Jacob King (@JacobKinge) March 3, 2026Mining Power Increases Despite Output DeclineAs of December 31, 2025, MARA held 53,822 BTC. About 28% ofthose holdings were deployed under the strategy, including 9,377 BTC loaned tocounterparties and 5,938 BTC pledged as collateral against $350 million inoutstanding credit facilities. The lending activity generated $32.1 million ininterest income.However, the company’s bitcoin exposure also resulted inlosses during 2025. MARA recorded a $422.2 million decline in the fair value ofits holdings, mainly reflecting a fall in bitcoin’s market price.MARA mined 8,799 BTC in 2025, a 7% decline from 9,430 BTC in2024, due primarily to the April 2024 halving event and rising networkdifficulty. Despite lower output, it increased its energized hashrate to 66.4EH/s, a measure of its total mining power.This article was written by Tareq Sikder at www.financemagnates.com.