100 Million Bitcoin Purchase from Giant Miner Marathon Digital: How Many BTC Did He Have?

Marathon Digital, a Bitcoin mining company, purchased $100 million worth of Bitcoin and increased the amount of Bitcoin on its balance sheet to over 20,000 BTC.

MARA, rebranded from Marathon Digital, one of the world's largest Bitcoin mining companies, announced today that it has purchased an additional Bitcoin worth $ 100 million.

In his statement, MARA CFO Salman Khan did not provide specific details about when the purchases were made and at what average price. However, he used the following sentences:

We strategically take advantage of favorable market conditions to opportunistically buy Bitcoin in the market.

MARA's Bitcoin assets are around 1.3 billion dollars. The company will adopt a “HODL” strategy where it will keep all Bitcoins obtained from mining and make additional purchases periodically.

It was noted that they sold only 31% of the production as of 2024, and this rate was 56% in 2023. The company is also diversifying its revenue streams by turning to altcoin mining.

Khan also included the following sentences in his statement:

Until last year, we kept all our Bitcoin holdings. Given current positive conditions, such as increasing institutional support for Bitcoin and an improving macroeconomic environment, we are reintroducing this strategy and focusing on increasing the amount we hold on our balance sheet. Bitcoin's recent price decline and the strength of our balance sheet presented us with an opportunity to increase our holdings.

Stay tuned for new information