Two major Bitcoin miners, Marathon Digital Holdings and Hut 8, have invested heavily in Bitcoin during its recent correction period. On December 19th, they collectively purchased over 16,000 BTC for $1.6 billion, representing 37 days of Bitcoin issuance. Marathon led the charge with a purchase of 15,574 BTC at an average price of $98,529 per coin, amounting to approximately $1.53 billion.
This addition brings their total Bitcoin holdings to 44,394 BTC, currently valued at $4.45 billion based on the spot price of $100,151. Meanwhile, Hut 8 acquired 990 BTC for $100 million, paying an average of $101,710 per Bitcoin. This acquisition increases their total Bitcoin reserves to 10,096 BTC, making them the fourth largest public company holding over 10,000 BTC on their balance sheet.
These transactions occurred amidst a market downturn caused by a U.S. Federal Reserve rate adjustment which saw Bitcoin’s value drop by more than 5%.
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