A wallet attributed to MARA Holdings moved 996.105 Bitcoin, worth about $81.13 million, in a transaction listing Galaxy Digital among its recipients, according to Lookonchain. The on-chain analyst flagged the movement on October 9 as a possible sale by the U.S.-listed miner.
The Arkham screenshot shared with the alert labels the sender “MARA: Miner” and identifies a Galaxy Digital address alongside another recipient. The image does not establish how much went to each destination or whether the Bitcoin was subsequently sold.
Galaxy offers institutional trading services, including over-the-counter and electronic execution, spot and derivatives trading, and lending. A transfer to a trading counterparty can attract scrutiny over potential selling, but the wallet movement alone does not confirm an executed trade or its purpose.
MARA has previously disclosed substantial Bitcoin sales. In a March 26 announcement, it said it sold 15,133 BTC for approximately $1.1 billion between March 4 and March 25. Proceeds were intended to fund convertible note repurchases and general corporate purposes.
The latest alert follows CryptoQuant’s assessment of easing miner pressure, which CoinScreamer covered on October 8. That analysis concerned aggregate flows and reduced outflows, rather than every miner halting sales. An individual transfer therefore does not establish a reversal of the broader trend.
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