MARA, bitcoin miner, buys $100 million worth of bitcoin
Bitcoin miner MARA (Marathon Digital Holdings) announced last week that it purchased $100 million worth of bitcoin and is once again adopting a HODL strategy “effective immediately.”
MARA now owns over 20,000 bitcoins, approximately $1.3 billion at current market prices, demonstrating its confidence in bitcoin as a leading reserve asset and its long-term value.
Regarding the HODL strategy, the company plans to retain all mined bitcoins and make strategic purchases on the open market from time to time in the future.
Following the revamped strategy, MARA will leverage existing cash on its balance sheet and capital markets to fund operations in the future, MARA CFO Salman Khan told The Block.
