MARA Purchases $100 Million of Bitcoin, Adopts HODL Strategy

MARA (NASDAQ: MARA), a frontrunner in leveraging digital asset compute for vitality transformation, has bought $100 million price of Bitcoin, bringing its whole holdings to over 20,000 BTC, in accordance with a press launch despatched to Bitcoin Journal.

The corporate additionally introduced a brand new treasury coverage to undertake a full HODL method, retaining all Bitcoin mined and making periodic strategic purchases.

“Adopting a full HODL technique displays our confidence within the long-term worth of bitcoin,” acknowledged Fred Thiel, MARA’s chairman and CEO. “We consider bitcoin is the world’s finest treasury reserve asset and assist the concept of sovereign wealth funds holding it. We encourage governments and firms to all maintain bitcoin as a reserve asset.”   

MARA mentioned it goals to leverage its technological experience to assist Bitcoin and the broader digital asset ecosystem.

“Previous to final 12 months, the corporate used to carry all of its bitcoin,” mentioned Salman Khan, MARA’s chief monetary officer within the press launch. “Given Bitcoin’s present tailwinds, together with elevated institutional assist and an bettering macro setting, we’re as soon as once more implementing this technique and specializing in rising the quantity we maintain on our steadiness sheet. Bitcoin’s current value decline, coupled with the energy of our steadiness sheet, afforded us a possibility so as to add to our holdings. We stay up for persevering with to leverage our technological experience to assist Bitcoin and distributed digital asset ecosystems.”  

Simply final month, MARA introduced that it was utilizing the warmth generated from its Bitcoin mining to warmth a city of 11,000 in Finland. 

JUST IN: Marathon is now warming a city of over 11,000 in Finland utilizing warmth from #Bitcoin mining 🤯 🇫🇮

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— Bitcoin Journal (@BitcoinMagazine) June 20, 2024