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Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin
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United States-based crypto mining company Marathon Digital Holdings holds more than $460 million in Bitcoin (BTC), mainly from mining and purchases since last year.
According to a Tuesday report, the mining firm said it had been HODLing all Bitcoin generated from its mining operations — roughly 2,640 BTC — since its last sale in October 2020. In addition, Marathon Digital purchased more than 4,812 BTC in January when the price of the crypto asset was under $35,000. At the time of publication, the BTC price is $62,056, giving the mining firm’s 7,453 BTC holdings a value of roughly $462 million.
The company has continued to ramp up its mining operations despite global supply chain issues affecting the distribution of crypto mining rigs.
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