Marathon Digital remains strong in Bitcoin mining despite market challenges

The largest listed Bitcoin miner, Marathon Digital (stock market sticker MARA), has revealed new company data for July. Despite the halving and stable share price, the numbers are impressive.

The Florida-based company owns a total of 20,818 BTC, with a total value of $1.2 billion. In the past month, they ran their ASICs at full speed and managed to mine 692 Bitcoin, up 17 percent from the previous month.

In terms of hashrate, Marathon is also experiencing growth on its own. Compared to the same month last year, the company increased its total hashrate by 39 percent, to now 31.8 Exahashes per second (EH/s). Total Bitcoin hashrate recently reached a record 646 EH/s, meaning MARA controls nearly five percent of the BTC mining network.

"We will continue to mine aggressively as the global hashrate falls due to the lower BTC exchange rate, and we will use all available resources to maximize the mining economy," said CEO Fred Thiel.

The company is also acting on its words. In July alone, they brought 5,000 new ASICs online. The company has adopted an increasingly aggressive strategy. As of now, the company wants to hold as much BTC as possible and not sell it.

In July, they even bought BTC worth $100 million. The short-lived mining capitulation after the halving seems to be over not only at Marathon. Krypto analyst Valentin Fournier told The Block that many miners are not only holding the block rewards, but even buying additional Bitcoin on the market.