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Marathon Digital sold 1,500 BTC in January, according to a Thursday statement from the company.
The sale is meant to help fund the company’s operations, Marathon said.
“With bitcoin production increasing and becoming more consistent, we made a strategic decision to sell some of our bitcoins, as previously planned, to cover some of our operating costs and for the general purpose of the company,” CEO Fred Thiel said in a statement. “We intend to to continue selling a portion of our bitcoin holdings in 2023 to fund monthly operating expenses.”
Per the release: “As a result, Marathon has a total of 11,418 BTC, of which approximately 8,090 BTC (c. $187.2 million) is uncapped, as of January 31, 2023.”
Bitcoin is trading around $23,500 at press time.
© 2023 Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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