According to The Block, Bitcoin miner Marathon Digital (MARA) announced today that it has purchased an additional $100 million worth of Bitcoin.
With this acquisition, Marathon Digital increased its assets to over 20,000 BTC.
In its statement, the company stated that it is in HODL mode on Bitcoin and plans to adopt a full “HODL” approach to its Bitcoin treasury policy, holding all mined Bitcoins and making additional purchases periodically.
MARA CFO Salman Khan said in a statement that the company only opportunistically bought Bitcoin (BTC) using favorable conditions in the market and its strategic advantage.
“We are focusing on increasing the amount we hold on our balance sheet. Bitcoin's recent price drop, combined with the strength of our balance sheet, has given us the opportunity to add to our holdings,” Khan said. said.
MARA president and CEO Fred Thiel said in his statement:
“Adopting a full HODL strategy reflects our confidence in the long-term value of Bitcoin.
We believe Bitcoin is the world's best treasury reserve asset and support the idea of sovereign wealth funds holding it. “We encourage governments and companies to hold Bitcoin as a reserve asset.”
The mining company did not provide detailed information about when Bitcoin purchases were made and at what average price.
*This is not investment advice.
