Bitcoin mining company MARA recently purchased $100 million worth of Bitcoin and currently holds over 20,000 coins

ChainCatcher news, according to TheBlock, Bitcoin mining company MARA (formerly Marathon Digital) recently announced that it has purchased $100 million worth of Bitcoin, bringing its Bitcoin holdings on the balance sheet to over 20,000 coins, approximately $1.3 billion, close to 0.1% of the total Bitcoin supply. MARA's Chief Financial Officer Salman Khan stated that the company made this strategic purchase under favorable market conditions but did not disclose the specific purchase time and average price.

According to Bitcoin financial data, MARA held 18,536 BTC at the end of June, so this purchase may be around 1,500 BTC, with a price range between $54,000 and $68,000. MARA also stated that it will fully adopt a "HODL" strategy, retaining all Bitcoin obtained from mining and planning to make additional purchases regularly. The company's Chairman and CEO Fred Thiel emphasized that Bitcoin is the best reserve asset globally and encouraged governments and enterprises to hold it as a reserve asset.

Additionally, MARA has reduced the proportion of Bitcoin sold from 56% in 2023 to 31% in 2024. Khan pointed out that given the current market environment for Bitcoin and the increasing institutional support, MARA has decided to re-implement this strategy, focusing on increasing its Bitcoin holdings on the balance sheet.