MARA Holdings revised its treasury strategy to allow the potential sale of Bitcoin holdings that were previously held long term, according to its latest SEC filing. As of December 31, 2025, the company held 53,822 BTC, with about 9,377 BTC loaned out and 5,938 BTC pledged as collateral against debt. The policy change gives MARA greater flexibility to manage liquidity and balance sheet needs, signaling a shift from its earlier strict long‑term holding approach toward a more active digital asset strategy.
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