MARA Sends Another 1,000 BTC to BitGo, Its Fourth Big Transfer in October: Can BTC USD Absorb It?

Early Wednesday, October 28, the on-chain analytics platform Lookonchain reported that Bitcoin miner MARA Holdings transferred another 1,000 BTC—valued at approximately $81 million—to custodian BitGo. This marks the company’s second such movement in a 48-hour window. Given that the firm liquidated 23,093 BTC during the initial six months of the year to reduce its debt load, market participants monitoring BTC USD near the $81,500 threshold closely scrutinize each transaction as a potential liquidation.

Bitcoin mining company MARA Holdings (@MARA) transferred another 1,000 $BTC ($80.66M) to BitGo 9 hours hours ago.https://t.co/tv5jDUw7r1 pic.twitter.com/vAr5o0PNWx

— Lookonchain (@lookonchain) October 28, 2026

Thus far, market pricing has remained resilient, with Bitcoin registering a 2% gain over a 24-hour period. However, blockchain records reveal that the first of the two BitGo deposits has already been fragmented and forwarded elsewhere.

MARA delivered two distinct batches of precisely 1,000 BTC, with one batch already redistributed. Verification of both transactions via mempool.space indicates:

• October 26, 18:16 UTC: 1,000 BTC transferred from a MARA wallet (bc1qjp40…5355) to the BitGo recipient address within block 973,265.
• October 28, 00:24 UTC: Another 1,000 BTC transferred from a secondary MARA wallet (bc1qly0q…fnvpt) to the identical BitGo address within block 973,474.

Both tranches had remained dormant since October 7 and 8, 2025, when Bitcoin traded above the $121,000 mark. At current market valuations, they represent roughly a third less in worth.

By 07:13 UTC on Wednesday, the BitGo destination address divided the initial tranche into 16 smaller amounts ranging between 21.5 and 108.5 BTC, routing each to a fresh destination. While this behaviour is typical during OTC distributions to multiple buyers, the destination wallets lack public labels, meaning the blockchain ledger alone does not definitively confirm an outright sale.

The second tranche remains stored at the BitGo address. According to corporate disclosures, MARA routinely liquidates newly minted Bitcoin and retains the flexibility to dispose of additional treasury holdings periodically.

DISCOVER: 15+ Best Crypto IPO to Watch in 2026

How Much Bitcoin Has MARA Moved This Month?

The total reaches approximately 3,996 BTC, translating to a value near $326 million at present exchange rates. Prior to these dual BitGo transfers, Lookonchain highlighted a transfer of 996 BTC directed to Galaxy Digital on October 8, alongside 1,000 BTC sent to Binance and Gate between October 14 and 19.

This volume equates to roughly 11% of the 35,577 BTC balance MARA disclosed at the close of June, or roughly five times its typical monthly production output. During the second quarter, MARA minted 2,422 BTC—averaging about 807 BTC monthly—while liquidating 2,213 BTC.

A broader inspection points to a contracting corporate treasury. MARA’s Q2 10-Q filing documented holdings of 35,577 BTC as of June 30, down from 53,822 BTC at the end of 2025, following the disposal of roughly 23,093 BTC for $1.63 billion during the first half of the year, primarily to fund convertible note buybacks. Of the remaining balance, 4,528 BTC served as collateral commitments while 4,742 BTC was out on loan. Additionally, MARA is pursuing the acquisition of a 505-megawatt gas-fired power facility in Ohio while evaluating the transition of up to 90% of its proprietary hash rate toward artificial intelligence workloads.

MARA has not yet confirmed the release date for its third-quarter financial figures. Last year, the report dropped on November 4, serving as the initial official disclosure channel for any October inventory adjustments.

EXPLORE: Retail Bitcoin Holders Are Sending Coins to Binance at a Six-Month High While Whales Pull Back: Who Is Right About $80,000?

BTC USD Price Analysis: Can Bitcoin Clear Its 4-Hour 200 EMA?

Testing is underway. BTC USD changes hands at $81,577 on Binance, holding above its 4-hour 50 EMA of $81,110 while pressing right beneath the 4-hour 200 EMA of $81,705, following an intraday peak of $81,823 earlier in the session.

• Resistance: $84,898, reflecting the October 21 peak and the ceiling of the most recent monthly upward leg.
• Support: $79,221, representing the October 24 trough which successfully withstood three separate downside tests throughout the week.

While a monthly outflow of roughly $326 million represents a substantial sum for an individual mining enterprise, it remains modest when contrasted against the $23.9 billion worth of total volume cleared across the wider market over the trailing 24 hours. Observers should keep a close watch on the BitGo wallet address: if the secondary tranche undergoes a similar fragmentation process, interpreting the movement as anything other than a distribution phase becomes difficult.