{"id":85105,"date":"2024-07-25T15:20:54","date_gmt":"2024-07-25T19:20:54","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=85105"},"modified":"2024-07-25T15:21:45","modified_gmt":"2024-07-25T19:21:45","slug":"marathon-digital-adds-100m-in-bitcoin-to-reserves","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/marathon-digital-adds-100m-in-bitcoin-to-reserves\/","title":{"rendered":"Marathon Digital Adds $100m in Bitcoin to Reserves"},"content":{"rendered":"\n

Marathon Digital, a business engaged in Bitcoin mining, has acquired $100 million worth of BTC as a component of its long-term investment strategy<\/a> known as “HODL.”\u00a0<\/p>\n\n\n\n

\"Marathon
Marathon Digital Adds $100m in Bitcoin to Reserves<\/figcaption><\/figure>\n\n\n\n

In a recent article, Marathon Digital, a prominent cryptocurrency mining company<\/a>, announced that it had acquired $100 million worth of Bitcoin. As a result, the company now possesses more than 20,000 BTC, which it intends to store as part of its investment plan known as HODL.<\/p>\n\n\n\n

As part of its new strategy, the American cryptocurrency mining company Marathon Digital has announced that it will keep all the Bitcoin it mines and will occasionally make selective acquisitions in the open market.<\/p>\n\n\n\n

Fred Thiel, the CEO of Marathon Digital, expressed his belief in the enduring worth of Bitcoin and urged governments and enterprises to adopt it as a reserve asset. This purchase aligns with our strategic vision. Fred Thiel, the CEO of Marathon Digital, stated:<\/p>\n\n\n\n

\n

“Adopting a full HODL strategy reflects our confidence in the long-term value of Bitcoin.”<\/p>\n<\/blockquote>\n\n\n\n

Salman Khan, the chief financial officer of Marathon Digital, stated that the company increased its cryptocurrency assets \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>when the value of Bitcoin dropped, providing the mining company with a chance to acquire more digital currency. <\/p>\n\n\n\n

Contrary to the announcement, the shares of Marathon Digital (MARA) had a decline of 2.4% in pre-market trading, according to data from Nasdaq. Marathon's acquisition aligns with its objective to increase its mining capacity by twofold in 2024, aiming to reach a hash rate of 50 EH\/s. <\/p>\n\n\n\n

Marathon's operations attained a hash rate of 24.7 EH\/s, surpassing competitors Core Scientific<\/a> and Riot Platforms. If Marathon achieves its goal of reaching a hash rate of 50 EH\/s, it will have increased its hash rate by more than 100% from the beginning of 2024.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Marathon Digital, a business engaged in Bitcoin mining, has acquired $100 million worth of BTC as a component of its long-term investment strategy known as “HODL.”\u00a0 In a recent article, Marathon Digital, a prominent cryptocurrency mining company, announced that it had acquired $100 million worth of Bitcoin. As a result, the company now possesses more […]<\/p>\n","protected":false},"author":43,"featured_media":85106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[754,4015,8700],"class_list":["post-85105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-mining","tag-hodl","tag-marathon-digital"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/Marathon-Digital-adds-100m-in-Bitcoin-to-reserves0A.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/85105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=85105"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/85105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/85106"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=85105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=85105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=85105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}