TechFlow reported on July 25 that, according to TheBlock, Bitcoin mining company MARA (formerly Marathon Digital) recently announced the purchase of $100 million worth of Bitcoin, increasing its on-balance-sheet Bitcoin holdings to over 20,000 BTC—worth approximately $1.3 billion and nearly 0.1% of Bitcoin’s total supply. Salman Khan, MARA's Chief Financial Officer, stated that the strategic acquisition was made under favorable market conditions but did not disclose the exact timing or average purchase price.
According to Bitcoin financial data, MARA held 18,536 BTC at the end of June, suggesting this purchase amounts to roughly 1,500 BTC acquired at prices between $54,000 and $68,000. MARA also stated it will fully adopt a "HODL" strategy, retaining all newly mined Bitcoin and planning periodic additional purchases. Fred Thiel, the company's Chairman and CEO, emphasized that Bitcoin is the world’s premier reserve asset and encouraged governments and corporations to hold it as part of their reserves.
In addition, MARA has reduced the proportion of Bitcoin sold from 56% in 2023 to 31% in 2024. Khan noted that given the current Bitcoin market environment and growing institutional support, MARA has decided to re-adopt this strategy, focusing on increasing its Bitcoin holdings on the balance sheet.
