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Marathon Digital Buys $100 Million Worth of Bitcoin

Published

2 years ago

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Marathon Digital Buys 0 Million Worth of Bitcoin

Key Takeaways

  • Bitcoin miner Marathon announced the purchase of $100 million worth of bitcoin.
  • This takes the company’s bitcoin holdings to more than 20,000, worth roughly $1.3 billion.
  • Marathon said it’s reverting to a strategy of holding all the bitcoin it mines on its balance sheet.

Marathon Digital (MARA) bought more bitcoin.

The bitcoin miner said Thursday that it recently purchased $100 million of the cryptocurrency on the open market, adding that it now owns over 20,000 bitcoin — worth roughly $1.3 billion on the open market — and intends to acquire more.

It also says it now plans to keep all the bitcoin it mines, which it called a “full HODL strategy.”

Marathon CFO Salman Khan explained that a recent dip in bitcoin prices, combined with the company’s strong financial position, provided an ideal opportunity to expand its holdings. The company had lately been selling bitcoin to cover operating expenses.

As of June 30, Marathon held $268 million in cash. The company is set to report its second-quarter earnings on August 1.

Marathon stock was recently up about 1%, with bitcoin down roughly 2% over the past 24 hours to a bit under $65,000, according to CoinDesk.

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“We believe bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it,” said Marathon CEO Fred Thiel. “We encourage governments and corporations to all hold bitcoin as a reserve asset.”

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Crypto

Strategy buys even more Bitcoin—$264 million of it—even as Bitcoin slumps to $87,000. | Fortune

Published

6 hours ago

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January 26, 2026

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Strategy buys even more Bitcoin—4 million of it—even as Bitcoin slumps to ,000. | Fortune

Despite the current downturn for crypto, Strategy added even more Bitcoin to its collection. The company bought more than 2,900 Bitcoin last week, bringing its total to over 712,000, according to an X post by cofounder Michael Saylor. The move follows a more than $2 billion purchase earlier this month. 

Strategy is the first and biggest digital asset treasury, or a type of company that acquires and holds on to large amounts of crypto. Saylor’s company began investing in Bitcoin in 2020 and now holds more than 3% of the total supply. This business model has confronted major challenges in the past few months, as the largest cryptocurrency has plummeted since its all-time high in October. Bitcoin is worth about $87,000, down about 31% since then, according to Binance. 

One analyst views Saylor’s purchase as expected, considering the company’s business strategy, which is to continually amass Bitcoin on the theory it will appreciate in the long term, and to time purchases to coincide with market dips.

“It’s not surprising for me to see that they’re really aggressively continuing to purchase [Bitcoin]”, said Nathan Schmidt, an analyst at CFRA Research. “It is certainly the playbook for them these days.” 

Bitcoin’s fall from its all-time high of about $126,000 in October was caused in part by a flash crash in the fall, where crypto traders lost more than $19 billion in their positions. Misfortunes for digital assets have only continued this calendar year. The sector dipped as tensions mounted between the U.S. and Europe over Greenland. In addition, major regulatory legislation, referred to as the Clarity Act, has stalled as major figures in the crypto industry spar over its details. 

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The major cryptocurrency isn’t the only one to suffer losses, as altcoins are down as well. Ethereum is down 30% in the last three months to its current price of $2,899, and Solana is down more than 38% to its price of about $124, according to Binance.

Crypto’s dip has led to disastrous returns for digital asset treasuries like Strategy. Saylor’s company stock is down about 64% since July to its current price of about $160. 

Schmidt, the analyst from CFRA Research, argues that the biggest risk to Strategy is long-term declines in the value of Bitcoin. He says that the company could survive such a dip in the next few years because of its liquidity, but that over time the company would be in trouble. 

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Crypto

Markets Front-Run New Fed Chair: Pro-Crypto Blackrock Executive Gains Dominant Odds

Published

18 hours ago

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January 26, 2026

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Markets Front-Run New Fed Chair: Pro-Crypto Blackrock Executive Gains Dominant Odds
Prediction markets are coalescing around Blackrock executive Rick Rieder as the leading contender to succeed Fed Chair Jerome Powell, spotlighting a potential Federal Reserve shift shaped by pro-crypto, pro-bitcoin views and evolving monetary expectations.
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Crypto

Is Bitcoin Supercycle Truly On The Horizon? Analyst Predicts $31K Bottom In 2026

Published

1 day ago

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January 25, 2026

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Is Bitcoin Supercycle Truly On The Horizon? Analyst Predicts K Bottom In 2026

The calls of a potential Bitcoin supercycle in 2026 intensified over the past week after former Binance CEO Changpeng ‘CZ’ Zhao — yet another prominent voice in crypto — laid out his predictions for the new year. However, a popular analyst on the social media platform X has released an opposing view, predicting a deep bottom for the BTC price this year.

BTC Price At Risk Of Further 65% Decline

In a January 25th post on the X platform, prominent crypto trader Ali Martinez said, in a sarcastic tone, that “the super cycle is super cycling.” In what seemed like a response to the buzz around CZ’s Bitcoin supercycle projection, the market pundit tempered the expectations with a $31,000 price bottom call for the premier cryptocurrency in 2026.

This bearish prediction is based on the appearance of price fractals on the BTC chart. For context, fractals are repeating patterns in price charts that can help map and project potential price movements for a particular cryptocurrency (Bitcoin, in this scenario).

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As observed in the chart above, the price of BTC is currently following a similar movement pattern as in 2022. The premier cryptocurrency, after initially setting a then all-time high around $67,000 in early 2021, witnessed a nearly 55% correction to just above the $30,000 level by mid-July.

While the price of Bitcoin recovered and went back to set a record high of above $69,000 by the end of 2021, the market leader spent the majority of the following year in a downward trend. Exacerbated by the various bearish events of 2022, BTC ended the year at a low of around $15,500.

Martinez believes that the Bitcoin price is undergoing a similar movement pattern, having experienced an over 32% decline before climbing to the current all-time high of $126,080. The market pundit postulates that the premier cryptocurrency is currently witnessing the extended decline that saw its price reach $15,500 in 2022.

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However, it is worth mentioning that the target this time around lies at $31,800, nearly 65% drop from the current price point. Hence, if the historical patterns highlighted by Martinez are to go by, there seems to be a higher likelihood of the Bitcoin price embarking on an extended downward trend rather than a supercycle.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $88,528, reflecting an over 1% decline in the past 24 hours.

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