Mara Bitcoin (NASDAQ: MARA), a leader in leveraging digital asset computing for energy transformation, has purchased $100 million worth of Bitcoin, bringing its total holdings to over 20,000 BTC, according to a press release sent to Bitcoin Magazine.
The company also announced a new financial policy to adopt a full HODL approach, holding all Bitcoin mined and making strategic purchases on a regular basis.
“Adopting a full HODL strategy reflects our confidence in Bitcoin’s long-term value,” said Fred Thiel, Chairman and CEO of MARA. “We believe Bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding Bitcoin. We encourage governments and corporations to hold Bitcoin as a reserve asset.”
MARA said it aims to use its technical expertise to support Bitcoin and the broader digital asset ecosystem.
“Until last year, we held all of our bitcoin holdings,” MARA chief financial officer Salman Khan said in a press release. “Given the current tailwinds for bitcoin, including increased institutional support and an improving macro environment, we are again executing on this strategy and focusing on increasing our holdings on our balance sheet. Bitcoin’s recent price decline, combined with the strength of our balance sheet, created an opportunity to increase our holdings. We look forward to continuing to leverage our technical expertise to support bitcoin and the decentralized digital asset ecosystem.”
Last month, MARA Announced The company was using heat generated from Bitcoin mining to heat a town of 11,000 people in Finland.
The marathon took place in a town of over 11,000 people in Finland. #Bitcoin Mining 🤯🇫🇮
— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024
