Marathon is Currently Second-Largest Publicly Traded Bitcoin Holder: CEO

Marathon - 2nd Largest Bitcoin Holder
Thiel’s Statement on the Conference Call

Marathon Digital Holdings, a bitcoin mining firm, is said to be the second-largest publicly traded corporation in terms of Bitcoin holdings. Since the beginning of July, the bitcoin miner with an American listing has generated at least 1,231 bitcoin, but none of it has been sold. The Q3 earnings report claims that Marathon Digital is the second-largest Bitcoin holder in the world.

Marathon - 2nd Largest Bitcoin Holder

According to unidentified third-party statistics, Marathon Digital CEO Fred Thiel stated during the firm's third-quarter results call on November 8 that the corporation now possesses 11,300 Bitcoin, equivalent to almost $205 million. This makes Marathon the second-largest holder of Bitcoin among publically listed corporations globally.

On November 8, the firm released its third-quarter earnings report, highlighting the addition of 616 Bitcoin to its holdings throughout the quarter and another 615 Bitcoin in October alone, the most successful month in corporate history.

Thiel’s Statement on the Conference Call

Thiel stated on the conference call that the steady improvement in the Bitcoin output is a direct outcome of boosting their hash rates by introducing more Bitcoin processors and enhancing those servers. The CEO also reaffirmed that the business has not yet sold any of its Bitcoin and would maintain this stance until it is deemed essential to fund operating expenditures or other expenditures.

Thiel also brought up the "fight" between Sam Bankman-Fried and Changpeng Zhao, CEO of Binance, during the call, claiming that it is generating "turmoil" for the bitcoin price but stating that it would most likely return to the region of $18,000 to $20,000, where they feel comfortable.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Bitcoin Miner Bitcoin Marathon Digital Holdings Q3 earnings report

Marathon is Currently Second-Largest Publicly Traded Bitcoin Holder: CEO

Gungun Bhatia

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.