Marathon Digital plans to buy from competing bitcoin miners. The American giant estimates thatapproval of a ETF spot on Bitcoin would be beneficial for thecrypto-mining industry.
In an interview with Bloombergthe head of Digital MarathonFred Thiel, said his company was planning to acquire several rival mining companies.
Listed on the Nasdaq, Marathon is one of the world’s largest Bitcoin miners. Its hashrate is currently close to 20 EH/sec, and could rise further in the event of an acquisition.
We intend to expand considerably in 2024 and 2025″, Thiel assured.
Marathon’s share price exploded in 2023 in the wake of the rising Bitcoin price. Since the start of the year, MARA has risen by over 400% to around $18. By comparison, BTC has jumped 150% since January. During the last bullrun, the stock touched an ATH of over 75 dollars.
The executive also returned to the hot topic of the moment in the crypto ecosystem: the potential approval of a spot Bitcoin ETF by US regulator SEC.
In his view, approval would be “beneficial” for companies specializing in bitcoin mining, as it would “stimulate overall demand for crypto-currency”.
This autumn, Marathon announced that it was entrusting the custody of its BTC to a new custodian: Fidelity.
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