Crypto mining company MARA purchases $100 million worth of Bitcoin, holding more than 20,000
July 25 news, 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 brings 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 Bitcoin.
The Bitcoin miner did not provide specific details on the purchase time and average price. MARA Chief Financial Officer Salman Khan said the company was just "taking advantage of favorable market conditions and speculatively buying 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 acquisition total may be around 1,500 BTC, with purchases this month at prices between $54,000 and $68,000.
