Oddbean new post about login | logout Huh? MARA does not sell bitcoin. It’s been buying too… It just doesn’t have as much as MSTR. But it’s the SECOND largest holder.
All miners sell bitcoin to one degree or another. They have to cover their opex
MARA went full HODL in July, and has been over periods. I just think this meme would be stronger with any other miner. MARA is actively buying bitcoin at more scale than anyone but MSTR. Makes Semler and Metaplanet look like chumps. I would put IREN in the meme personally.
I’m not that familiar with Mara’s financials in particular, but the point stands that miners sell. Mara will likely sell again in the future at some point.