Bitcoin mining company Marathon Digital (MARA) transferred 1,318 BTC, worth $86.9 million, in 10 hours as the BTC price drops to $64,000. The company transferred the currencies to three digital currency wallets, on-chain data reveals.
The Bitcoin Mining Company #MARA transferred 1,318 $BTC($86.89 million) to Two Prime, BitGo and Galaxy Digital in the last 10 hours. pic.twitter.com/ubPZM5iwWi
– Lookonchain (@lookonchain) February 6, 2026
According to Arkham, Marathon transferred a large amount of 653,773 bitcoins to credit and trading company Two Prime, worth approximately $42.01 million in a single transfer. A few minutes later, a small amount of 8,999 bitcoins, worth approximately $578,000, was sent to the same address linked to Two Prime.
A separate amount of approximately 300 bitcoins was sent to a wallet linked to custodian BitGo, split into two transfers, worth approximately $20.4 million at the time.
Additionally, Marathon also transferred 305 Bitcoins to a new wallet address, worth $20.72 million.
Tough times for Bitcoin mining companies
The price of Bitcoin has recently suffered a sharp decline and is now trading just above $63,000 at the time of writing, its lowest level since October 2024.
This decline has severely impacted Bitcoin mining companies, making mining operations less profitable for them. The value of mining revenue per unit of computing power, known as the hash price index, has fallen to around 3 cents per terahash, Bloomberg reported Thursday.
Newhedge reports that the next mining difficulty adjustment (every two weeks) could fall by more than 13%, one of the largest drops since China’s 2021 mining ban.
As a result, shares of major Bitcoin mining companies fell. Shares of Marathon Holdings fell more than 18%, while shares of CleanSpark and Riot Platforms fell 19.13% and 14.7%, respectively.
Marathon Stock Under Pressure – Here’s Why
Marathon stock has fallen more than 30% in the past five days and 34% in the past month, according to Google Finance.
The company’s stock performance is also linked to Marathon’s most recent insider stock trading report. On January 30, 2026, 14,301 shares of common stock were reserved at a price of $9.50 per share to cover its tax obligations upon vesting of the restricted stock units, according to data from Stock Titan.
In addition to headwinds from the declining Bitcoin market, mining companies are facing skyrocketing energy costs due to winter storms that swept across the United States in late January.
Additionally, energy-rich Bitcoin mining hubs in Texas and Tennessee have faced power outages.
“This is due to a combination of liquidation and winter storms,” Harry Sudock, CleanSpark’s chief commercial officer, told Bloomberg.
The post Bitcoin Mining Company Marathon Digital Transfers 1,318 Bitcoins in 10 Hours and Traders Wary of Forced Miner Selloff appeared first on Cryptonews Arabic.