Marathon has purchased over 5,300 Bitcoins over the past month, bringing its total holdings to 26,20
In the last 30 days alone, Marathon Digital Holdings (now MARA) has added approximately 5,382 BTC, or more than $300 million, to its treasury.
In its latest announcement on September 12, 2024, the mining giant Marathon Digital Holdings (now MARA) is holding a total of 26,200 Bitcoins.
This means the company has added approximately 5,382 BTC to its treasury over the past month, since its $250 million bond offering to purchase an additional 4,144 Bitcoins at an average price of $59,500 in mid-August 2024.
According to the Bitcoin production and mining activity update released in early September, MARA announced that as of August 31, 2024, they were holding 25,945 BTC. So it can be calculated that during the period from September 1 to September 12, they continued to buy 255 more Bitcoins to increase their total holdings to 26,200 BTC as announced.
MARA said that all of these Bitcoins are still subject to the "HODL" policy, retaining all the Bitcoins mined in their operations and will maintain a periodic buying strategy - similar to the "no Bitcoin selling" plan of Michael Saylor, Executive Chairman of MicroStrategy.
The latest purchase brings the amount of Bitcoin held on MARA's balance sheet past 26,000 BTC (worth about $1.5 billion at the time of writing) — more than 0.12% of the total supply of 21 million Bitcoins.
With 26,200 BTC, MARA still holds the second position on the list of public companies owning the most Bitcoin globally — with MicroStrategy leading the list with a total of 226,500 BTC, an increase of $786 million in assets after the purchase in June.
Not only are familiar "faces" like Tesla, Tether "racing" to buy Bitcoin, the list of public companies owning a lot of BTC is constantly updated by names such as Metaplanet, OneMedNet, Boyaa Interactive, Semler Scientific.
Marathon Digital will add a "Made in USA" label to Bitcoin blocks mined by the company in the US, in keeping with former President Donald Trump's "Make America Great Again" trend amid his call for Bitcoin production in the US.
Coin mining giant Marathon Digital Holdings (now MARA) announced that it will add a "Made in USA" label to all Bitcoin blocks mined by the company in the US.
Marathon's X post emphasized:
"MARA carries the spirit of the United States, proudly affirming that every Bitcoin block mined on American soil."
Marathon Digital CEO Fred Thiel emphasized that the company is committed to adding a "Made in USA" label to all Bitcoin blocks mined in the US by the MARA Pool.
According to Thiel, Marathon is the only large-scale Bitcoin mining company capable of doing this because it manages and operates its own mining pools, including determining where to mine Bitcoin blocks.
This means that all Bitcoin blocks generated by MARA Pool are mined in the United States and there is no participation from mining pools in other countries. Therefore, Marathon can confidently label its Bitcoin blocks “Made in USA”, asserting that they are produced entirely in the United States, something that not all large-scale mining companies can do.
This is a "trend-following" move that took place after former President Donald Trump stated on the social media platform Truth Social that he wanted all remaining Bitcoin to be "Made in USA".
In the article, the presidential candidate also emphasized that Bitcoin mining could be the "last line of defense" against CBDC and called on people to vote for him. Although, in March 2024, US Federal Reserve Chairman Jerome Powell dismissed the possibility of the Fed issuing a CBDC digital currency in the future.
Marathon's move to promote the "Made in USA" message came right after a series of exciting activities related to the king coin in less than a month. Marathon has continuously strengthened its investment strategy in Bitcoin when it spent $ 100 million to buy more BTC, bringing its total holdings to more than 20,000 BTC on July 25.
Not stopping there, on On August 12, Marathon continued to launch a $250 million convertible bond offering for institutional investors to purchase additional Bitcoin and serve the company's overall goals.
MARA affirmed that it will maintain a comprehensive "HODL" policy for its Bitcoin treasury, while committing to a periodic buying strategy. This is similar to MicroStrategy Executive Chairman Michael Saylor's "no Bitcoin sales" plan, despite a net loss of $199.7 million in Q2/2024 that caused Marathon Digital's stock price to drop 7.78%.
