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Marathon Digital (MARA), one of the largest bitcoin (BTC) miners, bought $100 million worth of BTC in the open market and said it will readopt its strategy to hold all mined bitcoin on its balance sheet.The miner said in a statement on Thursday that it now holds over 20,000 bitcoin, worth nearly $1.3 billion based on current prices,on its balance sheet and plans to buy more in the open market."Bitcoin’s recent price decline, coupled with the strength of our balance sheet, afforded us an opportunity to add to our holdings. We look forward to continuing to leverage our technological expertise to support Bitcoin and distributed digital asset ecosystems,” said Marathon's CFO Salman Khan.The decision to HODL or holding onto bitcoin comes almost year after Marathon started to sell its mined digital assets to pay for the company's operating expenses.Prior to the crypto winter, most miners adopted the strategy to hold on to all the mined bitcoin in their balance sheet, which paid off during the bull market rally.
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