Marathon Digital, a leading public miner, has announced that its treasury holdings have surpassed 20,000 BTC. At the current rates, this equates to over $1.4 billion in value. The company's strategy involves accumulating the bitcoins it mines, opting not to sell them on the market.
During the first three quarters of 2024, Marathon Digital mined more than 8,000 BTC. This achievement contributed to an increased hashrate of 20 EH/s. The miner plans to further strengthen its position by achieving a hashrate of 23 EH/s by the end of the year.
Analysts suggest that by retaining rather than selling its bitcoin holdings, Marathon Digital could benefit from potential future price increases, thereby enhancing its market capitalization.
