Bitcoin miner Marathon Digital Holdings (MARA) has transferred 1,318 BTC worth approximately $86.9 million within a 10-hour window as Bitcoin prices slid toward $64,000, on-chain data shows.
According to blockchain analytics firm Arkham, the miner distributed the funds across multiple wallet destinations. The largest transfer saw MARA send 653.77 BTC, valued at roughly $42 million, to credit and trading firm Two Prime. Minutes later, an additional 8.99 BTC, worth about $578,000, was sent to the same Two Prime-tagged address.
The Bitcoin mining firm #MARA transferred 1,318 $BTC($86.89M) to Two Prime, BitGo, and Galaxy Digital in the past 10 hours.https://t.co/9DlN5ZPsBz pic.twitter.com/ubPZM5iwWi
— Lookonchain (@lookonchain) February 6, 2026
In separate transactions, MARA moved approximately 300 BTC, worth approximately $20.4 million at the time, to wallets linked to crypto custodian BitGo. Another 305 BTC, valued at about $20.7 million, was transferred to a newly created wallet address, suggesting internal fund reallocation rather than an outright sale.
Bitcoin price drop puts miners under severe pressure
Bitcoin has continued its sharp decline in recent weeks and is hovering just above $63,000 at the time of writing, marking its lowest level since October 2024.
The downturn has significantly squeezed miner profitability. Bloomberg reports that the hash price index, a key measure of mining revenue per unit of computing power has fallen to around 3 cents per terahash. Meanwhile, Newhedge Research notes that Bitcoin’s next biweekly mining difficulty adjustment could see a drop of more than 13%, one of the steepest declines since China’s 2021 mining ban.
The impact has rippled across public mining firms. MARA shares fell over 18%, while CleanSpark and Riot Platforms dropped by 19.13% and 14.7%, respectively.
MARA shares slide as market, insider activity weigh in
Marathon Digital’s stock has remained under heavy pressure, falling more than 30% over the past five days and down roughly 34% over the past month, according to Google Finance data.
Investor sentiment has also been affected by recent insider transactions. On January 30, 2026, 14,301 shares of MARA common stock were withheld at $9.50 per share to cover tax obligations tied to vested restricted stock units, Stock Titan data shows.
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