MARA Holdings transferred 1,650 Bitcoin valued at roughly $132.8 million to Galaxy Digital, Copper and other platforms around Nov. 5, 2026, according to Lookonchain. The destinations include institutional-service providers, where such transfers can support sales, loans or other liquidity arrangements, but the on-chain movement does not confirm that MARA sold the coins or disclose its precise intent. The latest transfer follows the movement of 996.105 BTC, worth about $81.13 million, to a Galaxy Digital-affiliated wallet on Oct. 8-9. Together, the transactions moved more than 2,600 BTC toward institutional platforms in about four weeks. MARA sold 23,093 BTC for approximately $1.6 billion during the first half of 2026, reducing its holdings from 53,822 BTC at the end of 2025 to 35,577 BTC on June 30. About 9,270 BTC of its midyear holdings was allocated to digital-asset management strategies. The former Marathon Digital Holdings is also pivoting toward artificial intelligence and high-performance computing while continuing its Bitcoin-mining operations, making its remaining treasury and future disclosures important indicators of its strategy.