PANews reported on July 25 that according to The Block, Bitcoin mining company MARA (recently renamed from Marathon Digital) announced on Thursday that it had purchased an additional $100 million worth of Bitcoin. The acquisition brought MARA's balance sheet holdings to more than 20,000 BTC (about $1.3 billion), accounting for nearly 0.1% of the total supply of 21 million Bitcoins.

The Bitcoin miner did not provide specific details on the timing and average price of the purchases, with MARA CFO Salman Khan stating that the company was simply “taking advantage of favorable market conditions and speculatively purchasing Bitcoin in the market.” However, based on the dollar amount and the 18,536 BTC holdings on the company’s balance sheet as of the end of June, the latest acquisitions could total around 1,500 BTC, purchased at prices between $54,000 and $68,000 this month.