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Marathon Digital, the world’s largest Bitcoin mining firm, announced on Thursday that it has purchased $100 million worth of BTC for its balance sheet. This acquisition brings the mining giant’s total Bitcoin holdings to 20,000 BTC, valued at approximately $1.28 billion at current market prices.
In a strategic shift, Marathon Digital has declared that it will adopt a full HODL strategy, meaning the company plans to retain all Bitcoin mined and periodically make strategic purchases on the open market. This approach indicates that Marathon does not intend to sell any of its Bitcoin holdings, no matter how small the unit.
“Effective immediately, the company will adopt a full HODL strategy again,” Marathon stated. “The company plans to retain all Bitcoin mined and periodically make strategic purchases on the open market.”
Marathon’s decision aligns with the actions of several other public companies that have adopted Bitcoin as a primary treasury reserve asset this year, including Semler Scientific, Japan’s MetaPlanet, and Canada’s DeFi Technologies.
