Key Points
- Marathon Digital Holdings acquired over 5,000 Bitcoin in August, increasing its total holdings to 26,200 BTC, valued at around $1.5 billion.
- The firm’s aggressive acquisitions have made it the second-largest public holder of Bitcoin, after MicroStrategy.
Marathon Digital Holdings (NASDAQ: MARA), a leading mining company, made significant acquisitions of Bitcoin in August. Within a single month, the company added more than 5,000 Bitcoin to its holdings, bringing the total to 26,200 BTC. With a current valuation of approximately $1.5 billion, Marathon Digital Holdings has become the second-largest public holder of Bitcoin, following MicroStrategy.
Marathon’s Aggressive Acquisition Strategy
Marathon has publicized its strong belief in Bitcoin’s long-term potential. The company has been on an aggressive Bitcoin purchasing spree throughout the year, with August being its most active month.
On August 14, Marathon announced the acquisition of 4,144 BTC, bringing its reserves to over 25,000 BTC. By the end of the month, the company’s Bitcoin holdings had increased to 25,945 BTC. With additional acquisitions, the final count now stands at 26,200 BTC. Marathon’s aggressive buying strategy has led it to account for nearly 0.12% of Bitcoin’s total circulating supply.
Like MicroStrategy, Marathon seems to be strictly adhering to a “HODL” policy, retaining and building its reserves rather than selling the Bitcoin it mines. The company also makes periodic purchases to further expand its Bitcoin portfolio. Despite market fluctuations, this long-term strategy seems to be yielding positive results as Bitcoin’s value continues to show resilience and upward momentum.
Bitcoin’s Expanding Corporate Presence
The acquisitions by Marathon and other companies have had a noticeable impact on Bitcoin’s presence on corporate balance sheets. Data from Bitcoin Treasuries shows that public companies have collectively increased their Bitcoin holdings from 272,770 BTC at the start of the year to 333,329 BTC.
This trend indicates that institutions are increasingly investing in Bitcoin as a hedge against inflation and economic uncertainty. In addition, holdings by ETFs and funds have also significantly increased, surpassing the 1 million BTC mark, up from 771,000 BTC at the beginning of the year.
