MARA (NASDAQ: MARA), a leader in leveraging digital asset computing for energy transformation, has purchased $100 million worth of bitcoin, bringing its total holdings to over 20,000 btc, according to a press release sent to bitcoin Magazine.
The company also announced a new treasury policy to take a full HODL approach, holding all mined bitcoin and making periodic strategic purchases.
“Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin,” said Fred Thiel, MARA's chairman and CEO. “We believe bitcoin is the world's best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold bitcoin as a reserve asset.”
MARA said it aims to leverage its technological expertise to support bitcoin and the broader digital asset ecosystem.
“Prior to last year, the company used to hold all of its Bitcoins,” MARA CFO Salman Khan said in the press release. “Given the current bitcoin tailwinds, including increased institutional support and an improving macroeconomic environment, we are once again implementing this strategy and focusing on increasing the amount we hold on our balance sheet. The recent drop in bitcoin’s price, coupled with the strength of our balance sheet, provided us with the opportunity to increase our holdings. We look forward to continuing to leverage our technological expertise to support bitcoin and distributed digital asset ecosystems.”
Last month, MARA announced it was using heat generated by bitcoin mining to heat a town of 11,000 people in Finland.
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BREAKING NEWS: Marathon now heats a town of over 11,000 inhabitants in Finland using the heat from twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1803861222372126763?ref_src=twsrc%5Etfw”>June 20, 2024
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