According to TechFlow, on July 25, according to TheBlock, Bitcoin mining company MARA (formerly Marathon Digital) recently announced that it has purchased $100 million worth of Bitcoin, bringing its Bitcoin holdings on its balance sheet to more than 20,000, equivalent to about $1.3 billion, close to 0.1% of the total supply of Bitcoin. Salman Khan, chief financial officer of MARA, said the company made this strategic purchase under favorable market conditions, but did not disclose the specific purchase time and average price.
According to Bitcoin Financial data, MARA held 18,536 BTC at the end of June, so this purchase may be about 1,500 BTC, with a price range of $54,000 to $68,000. MARA also stated that it will fully adopt a "HODL" strategy, retaining all Bitcoins obtained from mining, and plans to make additional purchases regularly. Fred Thiel, chairman and CEO of the company, emphasized that Bitcoin is the world's best reserve asset and encourages governments and companies to hold it as a reserve asset.
In addition, MARA has reduced the proportion of Bitcoin sold from 56% in 2023 to 31% in 2024. Khan pointed out that given the current market environment for Bitcoin and the increase in institutional support, MARA decided to re-implement this strategy and focus on increasing Bitcoin holdings on its balance sheet.
