MARA Holdings, a Nasdaq-listed Bitcoin mining firm, has sold 20,880 bitcoins for $1.5 billion in Q1 2026 as it transitions from large-scale mining to artificial intelligence and high-performance computing. The company reported a net loss of $1.26 billion, more than double the previous year's loss for the same period, with revenue falling 18% to $175 million due to declining Bitcoin prices. The proceeds from the Bitcoin sale were used to reduce MARA's convertible debt by 30%, from $3.3 billion to $2.3 billion, and to fund the acquisition of Long Ridge Energy for nearly $1.5 billion. This acquisition includes a 505-megawatt natural gas power plant in Ohio. MARA has also restructured its operations, achieving $12 million in annual cost savings by reducing its workforce and halting large-scale mining equipment purchases. Despite the Bitcoin liquidation, MARA remains the fourth-largest corporate Bitcoin holder with 35,303 bitcoins valued at $2.84 billion.