Marathon Digital stock reaches a 6-year high, and the company HODL holds $460 million in Bitcoin

The U.S.-based cryptocurrency mining company Marathon Digital Holdings holds more than $460 million in Bitcoin (Bitcoin), mainly from mining and procurement since last year.

According to a report on Tuesday, the mining company Said Since the last sale in October 2020, it has been holding all the bitcoins (approximately 2,640 BTC) generated by its mining operations. In addition, Marathon Digital purchased more than 4,812 BTC in January, when the price of crypto assets was less than $35,000. At the time of publication, the BTC price was US$62,056, which makes the 7,453 BTC held by the mining company worth approximately US$462 million.

Although the company continues to expand its mining operations Global supply chain issues Affect the distribution of encrypted mining equipment. Marathon Digital reports that it has chartered some of the 42,381 ASIC miners it currently owns, enabling the company to produce more than 417 BTC in October. Most of the mining rigs are currently in use at the company’s Montana facility, while 12,331 drilling rigs are awaiting deployment at the Compute North facility in Texas.

The stock of Marathon Digital Holdings under the ticker symbol MARA, also Soar By November 3, it exceeded $63, a new high since May 2015. Since then, cryptocurrency mining stocks have fallen to $61.36 at the time of release.

Source: TradingView

related: Blacklist: Marathon only mines “fully compliant” Bitcoin transactions

The mining company announced in May Plan to achieve 70% carbon neutrality Although it plans to expand its operation scale by deploying more than 90,000 previously purchased mining machines. According to Marathon Digital, it expects that by 2023, a team of 133,000 miners will generate a hash rate of approximately 13.3 EH/s.