Marathon Digital Holdings, the world’s largest Bitcoin mining firm, has not sold a single BTC in the last month. Despite the downward trend in the price of Bitcoin, Marathon Digital has chosen to hold onto all of its BTC. As of June, the company holds 18,536 BTC, valued at over $1.1 billion according to its activity report from July 3.
Marathon Digital plans to continue increasing its BTC holdings through purchases on the open market and other investment opportunities aimed at increasing Bitcoin yield. However, the company mentioned that it may sell some of its BTC in the future to support its monthly operations, manage its treasury, and meet general corporate needs.
Selling patterns by major Bitcoin holders, such as mining firms, can have a significant impact on the price of Bitcoin, especially following the halving in April, which forces miners to sell more BTC due to reduced rewards.
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Marathon Digital doubled its operational hash rate on an annual basis to 26.3 exahashes (EH/s) in June, thanks to improvements in its facility in Elandale, which began fully operating at the beginning of July. CEO Fred Thiel emphasized that their proprietary mining pool has exceeded expectations, solving 158 blocks in June, which is 10% higher than the previous year.
