Bitcoin Giant Marathon: Digs with Long-Term Growth Target with HODL and More

Marathon Digital, the world's leading Bitcoin mining company, is doubling down on its commitment to digital gold, unaffected by the recent Bitcoin decline.** In a bold move, the company held its entire Bitcoin reserve through June, defying industry trends and signaling a long-term uptrend.

This strategic decision comes during Bitcoin's consolidation period, when prices remain below the desired $70,000 level. However, Marathon remains unaffected by focusing on bolstering its Bitcoin reserves through potential open market purchases. While sales to support operations are a possibility in the future, the company's primary goal is to have a significant Bitcoin holding.

Marathon Pushes the Limits in Bitcoin Mining

The company is pushing the boundaries of Bitcoin mining efficiency and sustainability. Their operational hashrate, a measure of mining power, doubled over the year, reaching 26.3 exahash seconds (EH/s) in June. This impressive growth is fueled by developments at the Ellendale facility, which recently became fully operational. Additionally, Marathon is on track to achieve its ambitious target of 50 EH/s by the end of 2024. This expansion is tied to optimizing recently acquired sites with the latest submersible cooling technology and next-generation hardware.

Converting Waste to Heat: A Sustainable Future

Marathon is pioneering a revolutionary Bitcoin mining approach by using waste heat to deliver sustainable heating solutions. Their pilot project in Finland uses excess heat from mining rigs to heat a town of 11,000 people through a network of underground pipes. This groundbreaking initiative demonstrates the potential of Bitcoin mining to contribute to a greener future.