BTC miner Marathon Digital is forced to sell bitcoins to fund expenses
Last month, Marathon Digital sold 1,500 coins from its inventory to cover current operating expenses. According to the company's CEO Fred Thiel, such a decision was part of the BTC-miner's plans.
The value of bitcoin is stabilizing and the volume of mining is growing. Based on this, it was decided to sell part of the reserves to cover operating costs and implement the strategic objectives.
Moreover, Fred Till said that BTC sales will continue in the future. The miner also states that there are currently 1,418 coins in reserve, of which 8,090 are unencumbered.
As a reminder, Marathon Digital has the second-largest number of BTCs. The clear leader in this area was MicroStrategy. Also among the whales are Hut 8 and Riot.
Major cryptocurrency mining companies were actively selling coins in 2022, however, it did not prevent the recovery of BTC, the value of which added 40% during January.