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Thursday, January 26, 2023

Marathon Grows Big

Marathon Digital Holdings, a U.S.-based crypto mining company, has become the second largest listed holder of BTC. The news was reported by Bloomberg on Feb 17 and confirmed by the CEO in an interview with the publication. By holding 92,027 BTC — worth almost $5 billion at the time of writing — Marathon has surpassed other large companies such as Tesla which currently holds 89,716 BTC according to CoinMarketCap data.

Marathon Digital Holdings is now the second largest listed holder of BTC, following Tesla.

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The United States-based crypto mining company Marathon Digital Holdings has become the second largest listed holder of bitcoin (BTC), according to a report by crypto news outlet The Block. This means that it controls more than one percent of the total supply of bitcoin, which is worth around $2 billion at current prices. Other institutional investors including Fidelity and BlackRock have also invested in crypto assets or have plans to do so in the future.

Marathon Grabs Second Spot

Marathon is a US-based crypto mining company founded in 2013 by Tom Kistner, who also serves as CEO of QTUM Foundation (QTUM), a blockchain project focused on smart contracts and dApps. The company owns two bitcoin mining facilities in Washington State, one of which was purchased from Bitmain Technologies last year for $92 million.

  • Marathon is now the 2nd largest listed holder of bitcoin.
  • The company’s CEO and Chairman Merrick Okamoto said that the company currently holds 92,027 BTC — worth almost $5 billion — and plans to add another 10,000 BTC to its reserves this week.
  • The company’s holdings have grown by more than 50 percent since March 2019 when it had 57,000 BTC in cold storage.

    This news is great for anyone who wants to see Bitcoin succeed as a digital currency. With more people buying up and holding their own BTC, it’s likely to stabilize in the coming months — especially if major corporations like Marathon continue contributing to this trend by investing more money into Bitcoin.

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