Marathon is now the 2nd-largest listed holder of Bitcoin, says CEO
Bitcoin (BTC) mining company Marathon Digital Holdings is now understood to be the second-largest holder of Bitcoin in the world among publicly-listed companies.
During the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 Bitcoin — worth around $205 million — “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide, ” referring to unnamed third-party data.
According to CoinGecko, the NASDAQ-listed crypto miner is ranked second only to MicroStrategy Inc., which holds nearly 130,000 total Bitcoin. It's followed by crypto exchange Coinbase and Jack Dorsey-founded payments company Block Inc.
The company reported its third-quarter earnings on Nov. 8, noting that it added 616 Bitcoin to its holdings in the quarter, while another 615 Bitcoin was added in the month of October alone — the most productive month in the company’s history.
.@fgthiel: "We have sequentially improved our bitcoin production, from 72 bitcoin in July, to 184 in August, then to 360 in September, and then to a record 615 in October. October was the most productive month in our Company’s history..." pic.twitter.com/wsfv0XOIuV
“The consistent improvement in our Bitcoin production is the direct result of increasing our hash rates by bringing more Bitcoin servers online and improving those servers,” said Thiel during the conference call.
The Marathon Digital CEO also confirmed that to date, the company still has not sold any of its Bitcoin, and will continue to take that position unless deemed “necessary to cover operating expenses or other expenses.”
This differs from other major miners such as Argo, Bitfarms, Core Scientific, and Riot Blockchain, all of
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