Marathon Digital, the largest Bitcoin mining company in the United States, announced that all Bitcoin blocks mined by the company will be marked "Made in the United States" from now on. At the same time, the mining giant will also copy MicroStrategy's money printing method and plans to raise $250 million through the sale of convertible bonds to increase its purchase of more Bitcoins.
Marathon Digital issued an article in the early morning of this morning (13th) claiming, "MARA (stock code) is Team America." As long as the Bitcoin blocks mined by the company in the United States, they will proudly declare that they are produced in the United States.
MARA is Team USA, proudly declared in each American-made bitcoin block we mine.#MadeInUSApic.twitter.com/4mFljYfoMi
— MARA (@MarathonDH) August 12, 2024
Company CEO Fred Thiel underscored this commitment, saying
“Every block that MARA Pool mines in the United States is stamped ‘Made in the USA.’ We are the only large miner that can do this because we operate our own mining pool and are able to ensure that all blocks that MARA Pool mines are Blocks are all made in the USA.
Marathon Digital’s move coincides with earlier remarks by U.S. presidential candidate Donald Trump, who stated that he hopes “all remaining Bitcoins will be made in the United States” on the grounds that promoting the development of the mining industry will have Help the United States achieve its goal of energy dominance.
On the other hand, Marathon Digital also announced earlier that it intends to privately issue "Convertible Senior Notes (Senior Note, a type of senior debt)" with a total principal amount of US$250 million, and use the proceeds to purchase more Bitcoins.
Marathon Digital began to adopt a "comprehensive HODL strategy" in July this year, which means that the company will no longer sell the mined Bitcoins, but will switch to long-term holdings and even purchase more Bitcoins regularly. As for using the bond market to The fundraising also replicates the strategy MicroStrategy has pursued over the past few years.
According to a report released by Marathon Digital last week, the company held a total of 20,818 Bitcoins as of July 31, worth more than $1.14 billion.
〈Every bitcoin mined will be labeled "Made in the United States"! Marathon also plans to raise funds to add BTC. This article was first published on Blockchain.
