MARA Holdings Inc. (NASDAQ:MARA) CEO Fred Thiel said Thursday the company plans to adopt an opportunistic approach, leveraging Bitcoin (CRYPTO: BTC) to enhance “financial flexibility” where appropriate.

MARA Records Paper Losses On Bitcoin

During MARA’s fourth-quarter earnings call, Thiel admitted that recent volatility in Bitcoin price has affected the sector’s sentiments and aspects of the company’s trading performance.

The company reported a fourth-quarter net loss of $1.7 billion, primarily due to a $1.5 billion hit from the fair value markdown on its Bitcoin holdings. The apex cryptocurrency tumbled 23% during the quarter.

“Historically, we retained the majority of the…

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