Marathon Patent Group Inc., a publicly traded bitcoin (EXANTE: Bitcoin) mining provider, has purchased 4,812.66 BTC in an aggregate purchase price of $150 million.
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The company said in an official announcement that it collaborated with NYDIG "to ensure the purchase was conducted effectively." Merrick Okamoto, Marathon Chief Executive & Chairman, says the investment accelerated the process of building Marathon "into what we believe to be the de facto investment choice for individuals and institutions."
"We also believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like MicroStrategy," Okamoto added.
Currently, Marathon signed agreements to buy 103,060 miners, which are expected to be delivered by the end of Q1 2022. With the mining rigs, the company plans to mine ~55-60 bitcoins per day based on the network’s current difficulty rate.
As iHodl reported, Greenpro Capital Corp., another Nasdaq-listed business incubator, plans to create a bitcoin-focused fund for investment. The company wants to invest up to $100 million in Q1, 2021. Greenpro believes in the ongoing "mass adoption of BTC by banks, hedge funds, insurance companies and institutions."
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