Marathon Digital Expands Bitcoin Holdings and Increases Production
Marathon Digital Holdings, the top global Bitcoin miner, is expanding its Bitcoin assets as part of a long-term holding strategy.
Marathon has recently added 2,282 BTC to its portfolio, worth over $124 million at today’s prices. This boosts its total Bitcoin holdings to 20,818 BTC, valued at around $1.14 billion, as reported on August 6.
The company has committed $100 million to Bitcoin purchases in July, signaling a strong dedication to using BTC as a core treasury asset.
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Despite a 50% reduction in block rewards anticipated from the upcoming Bitcoin halving, Marathon is maintaining its investment stance and has significantly increased its Bitcoin production to 692 BTC for July, marking a 17% rise from June.
Marathon also reported a 5% increase in its operational hash rate and no Bitcoin sales in June, underscoring its commitment to its mining strategy amid market fluctuations.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
