Cryptomining firm owning the second largest publicly traded Bitcoin Marathon Digital Holdingsdivested some of their BTC for the first time in two years.
Speaking to Cointelegraph, a company spokesperson stated that the divestiture had nothing to do with financial distress.
The company announced that it sold 1,500 BTC worth $35.3 million at current prices during the month, according to the January update released on Feb.
Koinfinans.com As we have reported, many mining companies were struggling with financial difficulties recently. Companies that wanted to overcome these problems preferred to sell their Bitcoin tokens.
Vice President Charlie Schumacher announced that such a situation is not in question for Marathon.
Schumacher, Marathon so far bitcoinHe said he is holding .
However, the company is trying to make its holdings more “cash-oriented”. In this context, he underlined that they primarily focus on closing debts.
Schumacher also stated that the recent rise in Bitcoin’s price contributed to his decision to sell some of his holdings. As a matter of fact, due to this sale, the assets held by the company increased to around 8090, which has an average of 190 million dollars.
In January, 687 BTC was produced, an increase of 45% compared to the previous month. In the update, CEO Fred Thiel noted:
“The improvement in our bitcoin production was primarily a result of our team’s ability to work with the new hosting provider in McCamey, Texas to address maintenance and technical issues at the King Mountain data center that were suppressing our bitcoin production in the fourth quarter of 2022.”