The world’s largest Bitcoin mining company, Marathon Digital Holdings, has not sold any Bitcoin in the past month despite the downward trend in Bitcoin prices. Marathon Digital chose to retain all its BTC. As of June 30, the company held 18,536 BTC, valued at over $1.1 billion according to data.
Marathon Digital plans to continue increasing its BTC holdings through open market purchases and other investment opportunities aimed at boosting Bitcoin returns. However, the company mentioned that it might sell some Bitcoin in the future to support its monthly operations, manage its funds, and meet general corporate needs.
The selling patterns of major Bitcoin holders, such as mining companies, can significantly impact Bitcoin’s price, especially after the halving in April, which forces miners to sell more Bitcoin due to reduced rewards.
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Due to improvements at the Ellendale facility, Marathon Digital’s operational hash rate doubled year-over-year in June, reaching 26.3 exahashes (EH/s). The facility became fully operational in early June. CEO Fred Thiel emphasized that their mining pool exceeded expectations, solving 158 blocks in June, a 10% increase from last year.
