Crypto Blog
Marathon Digital, the world’s largest Bitcoin mining company, has announced its latest purchase of $100 million worth of BTC, increasing its stash to more than 20,000 BTC., Marathon is changing its approach to its Bitcoin treasury policy and adopting a full HDOL strategy. This means that the miner will hold all BTC produced during its operations and will periodically make more open-market purchases going forward.
Bitcoin’s current tailwinds, improving macro environment, and rising institutional support have given Marathon enough reason to revert to holding BTC and focusing on growing its stash. Thanks to its strong balance sheet, the company leveraged bitcoin’s recent plunge to scoop some more assets. Fred Thiel, Marathon’s chairman and CEO, said: “Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin. We believe bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold bitcoin as a reserve asset.”The latest BTC acquisition comes as Marathon works toward diversifying its revenue and mining operations.
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