Despite the sale, Nasdaq-listed miner Marathon continues to hold one of the largest public bitcoin treasuries in the world.
Marathon Digital, a publicly traded bitcoin mining company, has announced the sale of bitcoin for the first time in two years.
“We intend to continue to sell a portion of our bitcoin holdings in 2023 to fund monthly operating costs,” Marathon’s monthly mining update reads. “Even with these sales, our unrestricted bitcoin holdings increased from 7,815 bitcoin as of December 31, 2022, to 8,090 bitcoin as of January 31, 2023, as our production improved and the appreciation in bitcoin’s price in January reduced the amount of bitcoin we had posted as collateral. Additionally, we ended the month with $ 133.8 million in unrestricted cash on hand.”