Bitcoin miner MARA, rebranded from Marathon Digital, announced a $100 million Bitcoin purchase, raising its holdings to over 20,000 BTC, about 0.1% of the total supply. The acquisition likely included around 1,500 BTC bought at $54,000 to $68,000 this month. Emphasizing a "HODL" strategy, MARA will retain all mined Bitcoin and make strategic acquisitions, reflecting confidence in Bitcoin as a premier treasury reserve asset. MARA has reduced Bitcoin sales significantly and will leverage its strong balance sheet and capital markets for operations. Additionally, MARA expanded into altcoin mining with Kaspa ASIC miners to diversify post-Bitcoin halving revenue.
Source: The Block