Mining company Marathon Digital acquired 22,065 BTC at an average price of $87,205 in 2024, mined 9,457 BTC, totaling 44,893 BTC, with 16.4% of that lent out to generate additional shareholder returns.
Marathon has adopted a comprehensive HODL strategy, holding over 40,000 Bitcoins.
Mining company Marathon Digital announced a comprehensive HODL strategy last August, aiming to not only hold all mined Bitcoin but also emulate MicroStrategy by purchasing Bitcoin with additional cash or issuing convertible bonds.
In its latest report, Marathon stated that in 2024, the company acquired 22,065 BTC at an average price of $87,205 and additionally mined 9,457 BTC. The diluted BTC yield per share at the end of the year is 62.7%. Overall, Marathon Digital holds a total of 44,893 BTC, worth $4.2 billion.
Fred Thiel, Chairman and CEO of MARA, stated: "As miners of Bitcoin and purchasers, this hybrid approach provides us with tremendous flexibility. We are able to buy Bitcoin during price declines, optimizing acquisition costs. Additionally, by leveraging our mining operations, we gain a competitive edge that allows us to produce Bitcoin at a cost below the current spot price. We believe this dual approach can solidify our position and enhance our ability to provide long-term shareholder value."
Creating additional income through Bitcoin loans
The report also mentions that Marathon temporarily lent some of its Bitcoin to third parties to generate additional income for shareholders, with these 7,377 BTC accounting for 16.4% of its reserves.
Robert Samuels, Vice President of Investor Relations at MARA, later provided more details about the loan program on X. Samuels stated that the loan program has been active since 2024, focusing on short-term arrangements with mature third parties, but did not disclose the identity of the borrowers. Additionally, he mentioned that this approach can yield moderate single-digit returns, with the long-term goal of generating enough income to offset operating expenses.
MARA ranks second in the list of public companies holding Bitcoin, second only to MicroStrategy.
According to CoinGecko, Marathon Digital ranks second in the list of public companies holding Bitcoin, second only to MicroStrategy, and far exceeding other mining companies such as Hut 8, Riot, CleanSpark, and Hive Digital.
After Marathon Digital announced a comprehensive HODL strategy last August, its stock price rose from a low of $13 to $30, but has recently declined alongside Bitcoin's pullback.
This article about the mining company Marathon holding over 40,000 Bitcoins, with 16% lent out to earn more income, first appeared in Chain News ABMedia.
