{"id":3897,"date":"2024-07-27T17:00:13","date_gmt":"2024-07-27T17:00:13","guid":{"rendered":"https:\/\/cryptd.in\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\/"},"modified":"2024-07-27T17:00:13","modified_gmt":"2024-07-27T17:00:13","slug":"this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc","status":"publish","type":"post","link":"https:\/\/cryptd.in\/it\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\/","title":{"rendered":"This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC"},"content":{"rendered":"

Bitcoin mining behemoth, Marathon Digital<\/a> has made headlines by investing a staggering $100 million in BTC<\/a>. This substantial investment comes despite BTC\u2019s previous price drops<\/a>, underscoring the mining giant\u2019s confidence in the long term potential of the pioneer cryptocurrency.\u00a0<\/p>\n

MARA Buys $100 Million Worth Of BTC<\/h2>\n

In a press release<\/a> published on Thursday, July 25, MARA, (recently rebranded from Marathon Digital) announced that it has purchased an additional $100 million worth of BTC. This substantial Bitcoin investment<\/a> marks a significant increase in MARA\u2019s already impressive Bitcoin holdings.\u00a0<\/p>\n

MARA\u2019s latest BTC acquisition has brought its balance sheet holdings<\/a> to about 20,000 BTC, valued at approximately $1.3 billion. The Bitcoin mining company\u2019s total holdings now represent nearly 0.1% of BTC\u2019s maximum supply<\/a> of 21 million BTC.\u00a0<\/p>\n

Notably, MARA\u2019s substantial BTC purchase comes at a time when the crypto market is steadily recovering<\/a> from previous bearish declines. Despite the constant fluctuations in BTC\u2019s price<\/a>, MARA has taken advantage of recent declines to heavily invest in Bitcoin in order to facilitate its long term view of the crypto assets potential.\u00a0<\/p>\n

At the time of writing, the price of BTC<\/a> is trading at $68,031, marking a 1.4% increase in the last 24 hours and another 2.24% surge over the past seven days, according to CoinMarketCap. Based on current exchange rates and MARA\u2019s balance sheet holdings, it could be estimated that its recent acquisition totaled about 1,500 BTC.\u00a0<\/p>\n

While MARA<\/a> has not disclosed the specific average price at which it acquired the $100 million worth of BTC, the Bitcoin mining giant announced that it will be adopting a full Hold On For Dear Life (HODL)<\/a> approach towards its Bitcoin treasury policy.\u00a0<\/p>\n

Furthermore, Michael Saylor<\/a>, co-founder and former Chief Executive Officer (CEO) of MicroStrategy, has commemorated<\/a> MARA\u2019s latest Bitcoin purchase and its 20,000 BTC milestone. The popular Bitcoin billionaire has urged Marathon Digital to increase their holdings to 26,200 BTC, cleverly referencing the standard marathon distance of 26.2 miles.\u00a0\u00a0<\/p>\n

Bitcoin Mining Giant Unveils Full HODL Strategy<\/h2>\n

MARA also announced its decision to adopt a full HODL strategy<\/a> for its Bitcoin treasury, aiming to retain all the BTC mined during operations instead of selling it. Additionally, the company revealed that it will be periodically making strategic open market purchases to further increase its considerable holdings.\u00a0<\/p>\n

Fred Thiel, MARA\u2019s chairman and CEO, emphasized the company\u2019s strong belief in BTC\u2019s long-term value<\/a>, encouraging governments and corporations to consider BTC as a reserve asset<\/a>. He elaborated that MARA sees Bitcoin as the best treasury reserve asset globally and supports the idea of sovereign wealth funds holding the pioneer cryptocurrency.\u00a0<\/p>\n

Additionally, Salman Khan, MARA\u2019s Chief Financial Officer (CFO), revealed that the Bitcoin mining firm once held all of its Bitcoin. However due to recent market conditions, increased institutional interest and improving macro environment, MARA has decided to return a full HODL strategy.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin mining behemoth, Marathon Digital has made headlines by investing a staggering $100 million in BTC. This substantial investment comes despite BTC\u2019s previous price drops, underscoring the mining giant\u2019s confidence in the long term potential of the pioneer cryptocurrency.\u00a0 MARA Buys $100 Million Worth Of BTC In a press release published on Thursday, July 25, […]<\/p>\n","protected":false},"author":0,"featured_media":3898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nThis Bitcoin Mining Giant Just Spent $100 Million To Buy BTC - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/it\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Bitcoin mining behemoth, Marathon Digital has made headlines by investing a staggering $100 million in BTC. This substantial investment comes despite BTC\u2019s previous price drops, underscoring the mining giant\u2019s confidence in the long term potential of the pioneer cryptocurrency.\u00a0 MARA Buys $100 Million Worth Of BTC In a press release published on Thursday, July 25, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/it\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-27T17:00:13+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tempo di lettura stimato\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minuti\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC\",\"datePublished\":\"2024-07-27T17:00:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/\"},\"wordCount\":477,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin_861088-lZ2TXw.jpeg\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"it-IT\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/this-bitcoin-mining-giant-just-spent-100-million-to-buy-btc\\\/\",\"name\":\"This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC - 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