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Author: Admin | 2025-04-28
As bitcoin. The entity currently serves 100+ clients. “We’re super excited about the institutional ownership,” says Marathon CEO Fred Thiel in an interview following the Fidelity disclosure. “If you look at the change from last year to this year and even the last two quarters have just been amazing [in] how much institutional ownership has grown in our stock,” adds Thiel.Marathon differentiates itself from other U.S.-based bitcoin mining companies such as Riot and Core Scientific in that they do not own hosting facilities or power facilities and instead work with third parties for hosting and solely operate the miners. The reason being that they focus on putting more money into deploying mining equipment and miners and believe that owning a hosting facility would not generate the same level of returns. “I think as an investor looking at mining stocks, you want to look at growth rate, you want to look at return on assets, you know it is a very CapEx intensive business” adds Thiel.The miner currently has approximately 19,000 miners deployed across the U.S., but has procured another 100,000 units to be installed over the next 12 months.Marathon's projected miner deployment over next yearMarathon Digital HoldingsAdditionally, in figures disclosed yesterday the miner produced 442.2 new minted bitcoins during July 2021, increasing total bitcoin holdings to approximately 6,225.6 with a fair market value of approximately $260.7 million. This number is a 66% gain month-over-month, which was surely aided by the crackdown of mining facilities in China, which led to all other miners seeing their pro-rata share of bitcoin’s hashrate increase temporarily. As these miners come back online, this temporary advantage could dissipate over the next several months.With more and more traditional financial institutions flocking towards digital assets and crypto, Thiel remains optimistic regarding bitcoin’s role in the future. “We are excited to see all the applications that are going to be rolled out on bitcoin and the expansion of bitcoin as it permeates itself into the kind of mainstream financial markets”.When asked for comment on the share purchase a Fidelity spokesperson responded, “As a practice, we do not comment on
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