MARA sells $1.1B in Bitcoin as Waller leaves December hike on the table

what happened

Miner MARA says its post-September 30 sales totaled 13,597 BTC, at an average near $81,039 and bringing in roughly $1.1 billion, according to BraveNewCoin. Its third-quarter shareholder letter, filed November 9, states that $750 million went toward repaying Bitcoin-collateralised term loans, which freed up 17,477 pledged coins. The company held 34,012 BTC at quarter-end, so the amount sold equals about 40% of that figure.

The same report points to US inflation data: consumer prices rose 0.4% in October, while core CPI gained 0.3% for a third straight month. Fed Governor Christopher Waller had earlier argued that core readings around 0.3% or higher could call for a firmer policy response, and he suggested a 50 basis point hike be considered at the December meeting. That is his personal view, while the committee makes the decision.

Separately, USDC, issued by Circle Internet Financial Europe SAS, moves into dual supervision under the EU's MiCA framework on November 12, with the European Banking Authority taking direct responsibility for own funds, reserves and redemption plans.

why it matters

For miners, the link between Bitcoin prices and financing matters. Selling coins and repaying collateralised loans shows that Bitcoin also works as a funding source, not just a balance-sheet asset. Debt tied to coin collateral depends on the price of the coins, and if rates stay high, borrowing costs for such companies could rise. According to the report, the sale itself does not signal that management expects prices to fall.

market impact

Bitcoin: miner sales add supply, but loan repayment eases pressure, so the net effect is mixed

• ↔Bitcoin mixed — miner sales add supply while repaying collateralised loans reduces leverage

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