Marathon Digital to now label all Bitcoin mined in the U.S. as ‘Made in USA.’
The company is the only large-scale miner with this capability.
Marathon launched a $250M offering to acquire more Bitcoin.
Marathon Digital Holdings will start marking any Bitcoin produced within the country with the phrase 'Made in USA.' The company is among the leading bitcoin miners in the country. The action represents a notable advancement in the company's dedication to promoting the mining of Bitcoin within the country.
https://twitter.com/WuBlockchain/status/1823191533451145467
Fred Thiel, the CEO of Marathon Digital Holdings, highlighted that the marking represents Marathon's distinctive position in the market since it is the sole large-scale mining company with the ability to guarantee that all blocks generated by its pool are exclusively of American origin.
This capability is a consequence of the company's independent operation of its mining pool, which enables it to supervise the entire process.
Endorsement of Presidential Candidate
The decision comes in the wake of previous statements made by former President Donald Trump, who has expressed his strong support for the establishment of additional Bitcoin mining facilities in the United States.
Trump has acknowledged that for the country to be the leader in energy, they have to boost Bitcoin mining. At the Bitcoin 2024 Conference in Nashville, he restated his endorsement of the sector, promising to guarantee that American Bitcoin miners possess the essential resources to sustain their activities within the nation.
Announcement of Private Offering
Marathon Digital Holdings has announced plans to raise $250 million through a private offering of convertible notes. The company intends to use the money to buy more Bitcoin. They plan to use the same tactic used by other prominent businesses such as MicroStrategy.
Marathon Digital Holdings' decision to label its mined Bitcoin as 'Made in USA' reflects its commitment to supporting the local mining industry. Marathon solidifies its position as a leading player in the American Bitcoin mining industry through the integration of this initiative with the company's strategic financial actions.
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