Bitcoin Miner MARA Holdings Buys 1292 BTC amid AI Safety & Slowdown Call
Highlights
- Bitcoin mining company MARA Holdings added 1,292 BTC worth almost $98.64 million on Wednesday.
- MARA holdings Bitcoin buy comes as AI executives urged a slowdown in development and AI safety.
- MARA Holdings stock fell 2.7% to $11.24 after downgrade by JPMorgan and CLARITY Act fails to pass Senate vote.
MARA Holdings added 1,292 bitcoin through FalconX in a transaction valued at about $98.64 million, according to on-chain analytics firm Lookonchain, as AI industry leaders called for a slower, more tightly supervised pace of frontier model development.
MARA Holdings Acquires Spot Bitcoin Worth Over $98 Million
Bitcoin mining company MARA Holdings added 1,292 BTC through FalconX in a single transaction, on-chain analytics platform Lookonchain reported on September 16. The latest buy was valued at almost $98.64 million.
This has sparked massive speculation with the crypto community as the Bitcoin miner purchased spot BTC, signaling strong conviction. It is also one of MARA Holdings’ big recent on-chain accumulations after almost a year.
The company had sold Bitcoin worth billions this year amid a shift towards AI infrastructure services. As CoinGape reported earlier, MARA Holdings sold 23,093 BTC worth almost $1.63 billion.
The firm now holds 35,577 BTC, including 9,270 BTC under its digital asset management strategy. At the current Bitcoin price, the total is valued at nearly $2.7 billion.
Notably, the latest purchase coincided with the CLARITY Act failing to pass the Senate cloture vote. Senate blocked the Trump-backed crypto bill in a 50-49 procedural vote, with 4 Republicans voting against the crypto bill.
Leaders Call for Safety AI and Slowdown in Development
The MARA holdings Bitcoin buy comes as AI executives urged a slowdown in development and push for more safety rules, shaking investors’ confidence in the industry. Anthropic CEO Dario Amodei’s essay “We Must Pace the Frontier” raised warnings about AI models helping build the next generation of models.
OpenAI’s Sam Altman and xAI’s Elon Musk agreed on rising AI risks to humanity and the need for AI safety. Google DeepMind AGI safety researcher Bilal Chughtai resigned, warning AI “has the potential to kill us all.”
Markets read the message as a threat to the AI capex boom, causing AI stocks to witness massive selloffs. Bitcoin price jumped in contrast as some investors treated it as a possible AI slowdown.
Meanwhile, MARA Holdings stock fell 2.7% to $11.24 on Tuesday after JPMorgan double-downgraded the Bitcoin miner to Underweight, citing concerns about its Starwood joint venture.
Investors wanting to track similar corporate treasury movements can utilize the best crypto research tools to monitor blockchain ledger activities in real time.
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