Bitcoin Supply Surge: Bhutan and MARA Liquidate $1.7B as Mining Business Models Pivot

The global Bitcoin market is facing a concentrated supply-side event as two of its most significant institutional holders, the Kingdom of Bhutan and the mining conglomerate MARA, execute multi-billion dollar liquidations. According to recent data from Arkham, the Bhutanese government has moved an additional 100 BTC, bringing its total outflows for 2026 to over $230 million. Simultaneously, MARA, formerly known as Marathon Digital, has offloaded $1.5 billion in Bitcoin to…