Lookonchain analyzed that an address associated with Bitcoin mining company Marathon Digital Holdings (NASDAQ ticker: MARA) deposited 1,000 BTC (approximately $82.8 million) to centralized exchanges such as Binance and Gate over the past five days. Typically, deposits to exchanges are interpreted as being for the purpose of selling. Marathon Digital Holdings has been continuously selling mined and held BTC to convert it into cash since the beginning of this year.
