{"id":15566,"date":"2024-07-25T19:18:34","date_gmt":"2024-07-25T16:18:34","guid":{"rendered":"https:\/\/forklog.com\/en\/marathon-digital-expands-bitcoin-holdings-with-100-million-purchase\/"},"modified":"2024-07-25T19:18:34","modified_gmt":"2024-07-25T16:18:34","slug":"marathon-digital-expands-bitcoin-holdings-with-100-million-purchase","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/marathon-digital-expands-bitcoin-holdings-with-100-million-purchase\/","title":{"rendered":"Marathon Digital Expands Bitcoin Holdings with $100 Million Purchase"},"content":{"rendered":"<p>MARA, formerly known as Marathon Digital, has increased its strategic bitcoin reserve to 20,000 BTC (approximately $1.3 billion) following an additional $100 million investment by the public mining company.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, we are announcing that MARA has purchased $100,000,000 worth of BTC. And effective immediately, we are once again adopting a full HODL strategy. Learn more about our <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Strategic Reserve: <a href=\"https:\/\/t.co\/pYxiclOtQa\">pic.twitter.com\/pYxiclOtQa<\/a><\/p>\n<p>\u2014 MARA (@MarathonDH) <a href=\"https:\/\/twitter.com\/MarathonDH\/status\/1816445234391535714?ref_src=twsrc%5Etfw\">July 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The management announced their readiness to implement a &#8220;full HODL&#8221; strategy regarding their digital gold reserves.<\/p>\n<p>This approach involves retaining mined bitcoins with further strategic acquisitions of coins, funded through cash and capital raising.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;The first cryptocurrency is the best asset for treasuries worldwide. We support the idea of sovereign funds acquiring the asset and urge governments and corporations to hold digital gold as a reserve asset,&#8221;<\/em> commented MARA Chairman and CEO Fred Thiel to <a href=\"https:\/\/www.theblock.co\/post\/307434\/mara-purchases-100-million-worth-of-bitcoin-holdings-surpass-20000-btc\">The Block<\/a>.<\/p>\n<\/blockquote>\n<p>Among public companies, MARA ranks second after MicroStrategy in terms of bitcoin holdings. The firm owns 0.095% of the available supply.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXdq636PzUOZRqjsKXVbTZ-2srxtkOituupTx7YBHDWVe1DBF3bPPe5_oDodRQTqXl5zIstsBapr5PCYCrkKwV4uDICIIT7ZPGJRBxKK_4oAMzh5CGxiF9HUz7aqifcdleoWTGsRiCRfFu6wX3_L1-Kq_ey3?key=hrT9sy554npVx0jhdCHNDQ\" alt=\"Marathon Digital Expands Bitcoin Holdings with $100 Million Purchase\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>.<\/figcaption><\/figure>\n<p>MARA does not disclose the average cost of the acquired coins.<\/p>\n<p><span data-descr=\"Chief Financial Officer\" class=\"old_tooltip\">CFO<\/span> Salman Khan noted that the organization leveraged &#8220;the strategic advantage of favorable market conditions for opportunistic purchases.&#8221;<\/p>\n<p>Khan emphasized that the majority of the coins reflected on the balance sheet were obtained through MARA&#8217;s own mining efforts.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Given the current favorable conditions, including increased institutional support for the asset and an improving macroeconomic situation, we are once again implementing this strategy and focusing on replenishing digital gold,&#8221; explained the top manager.<\/p>\n<\/blockquote>\n<p>The recent decline in bitcoin prices provided an opportunity to replenish reserves, Khan indicated.<\/p>\n<p>The company began investing in the first cryptocurrency in January 2021, initially allocating $150 million for this purpose.<\/p>\n<p>Earlier, Bernstein highlighted the promising prospects for shares of Marathon, Riot, and CleanSpark, which are poised to increase their share in the bitcoin mining market, partly through capital raising.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARA, formerly known as Marathon Digital, has increased its strategic bitcoin reserve to 20,000 BTC (approximately $1.3 billion) following an additional $100 million investment by the public mining company. Today, we are announcing that MARA has purchased $100,000,000 worth of BTC. And effective immediately, we are once again adopting a full HODL strategy. Learn more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1185],"class_list":["post-15566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-marathon-digital-holdings"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15566"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15566\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15565"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}