Crypto News

Marathon Sells BTC to Fund Operations Marathon Digital, a leading Bitcoin mining company in North America, revealed in its Q2 financial report that it sold over 50% of the BTC it mined during the quarter to fund its operating costs. The company, which has been expanding its mining operations, mined a total of 654.3 BTC in Q2, with an average cost of $31,168 per BTC. This resulted in a total revenue of $20.6 million for the quarter. The disclosure of selling a significant portion of its mined BTC may raise concerns among investors about the company's long-term plans and its belief in the future value of Bitcoin. However, Marathon has stated that it believes in the long-term potential of Bitcoin and will continue to hold the remaining BTC as a reserve asset. Marathon's Growing Mining Capacity Marathon has been aggressively expanding its mining capacity in recent months, with the company purchasing 30,000 additional miners earlier this year. This has allowed them to increas...