Marathon Digital Holdings, a major Bitcoin miner, purchased $100 million worth of Bitcoin, increasing its holdings to over 20,000 BTC, now valued at over $1 billion.

Marathon recently acquired around 1,500 BTC at prices ranging from $54,000 to $68,000, adding to its growing Bitcoin holdings.

Marathon reduced the percentage of Bitcoin sold from 56% in 2023 to 31% in 2024, focusing on expanding its BTC holdings.

The company plans to continue purchasing more Bitcoins in the open market to bolster its holdings.

Marathon's decision to retain all mined Bitcoins follows a previous strategy of selling digital assets for operational needs in early 2023.

Factors like institutional support, improving macro environment, and recent price decline influenced Marathon's choice to increase its Bitcoin holdings.

Marathon's CFO attributes the new 'HODL' policy to market trends and growing institutional support for Bitcoin.

MicroStrategy's Michael Saylor commends Marathon's strategic reserve approach and advocates for companies to hold Bitcoin.

Despite challenges from the Bitcoin Halving, Marathon continues to mine Bitcoin at a commendable daily rate of 590 BTC.

Marathon now stands as the second-largest Bitcoin holder, trailing only behind MicroStrategy, which holds over 220,000 BTC.

Marathon's CEO expresses strong support for Bitcoin as a treasury reserve asset, advocating for its adoption by governments and corporations.

Bitcoin's recent price recovery benefited from increased institutional backing and approval for spot BTC exchange-traded funds by BlackRock.