MARA Buys $100M Worth of Bitcoin, Reactivates 'Full HODL' Strategy

• Recent acquisitions have amounted to approximately 1,500 BTC, acquired this month within the price range of $54,000 to $68,000, according to calculations by The Block.
• The company also proclaimed that it will adopt a full HODL approach towards its bitcoin treasury policy, retaining all bitcoin mined in its operations, and will periodically make strategic open market purchases.

"Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin. 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," said MARA’s chairman and CEO Fred Thiel.

• Previously, the company retained all of its Bitcoin, but MARA began selling a portion of its monthly production to cover operating expenses during the bear market of 2022.

"Prior to last year, the company used to hold all of its bitcoin. Given Bitcoin’s current tailwinds, including increased institutional support and an improving macro environment, we are once again implementing this strategy and focusing on growing the amount we hold on our balance sheet. Bitcoin’s recent price decline, coupled with the strength of our balance sheet, afforded us an opportunity to add to our holdings," added Salman Khan, MARA’s chief financial officer.

• This current move comes after MARA raised significant equity financing totaling $472 million in Q1 2023 through stock offerings. The firm is the largest public bitcoin mining company, with nearly 30 EH/s in realized hashrate.

Today, we are announcing that MARA has purchased $100,000,000 worth of BTC. And effective immediately, we are once again adopting a full HODL strategy. Learn more about our #Bitcoin Strategic Reserve: pic.twitter.com/pYxiclOtQa

— MARA (@MarathonDH) July 25, 2024

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