Marathon Digital CFO: Bitcoin Price Will Rise, No Monthly Sales Required for Miners

IconCryptoNewsTerminal Staff15 Jul, 2024

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Marathon Digital CFO: Bitcoin Price Will Rise, No Monthly Sales Required for Miners

Marathon Digital CFO Salman Khan believes the price of Bitcoin will continue to rise. In an interview with Cointelegraph, Khan stated that the company does not need to sell its mined Bitcoin on a monthly basis. Unlike oil companies that must sell their product for revenue, Bitcoin mining companies can hold their mined assets without incurring holding costs. This flexibility allows miners to adopt a hodl strategy, accumulating Bitcoin over time. Marathon Digital currently holds approximately 18,536 BTC, while Riot Platforms and CleanSpark have also adopted a similar approach and are not selling their mined Bitcoin. This trend suggests that large U.S. miners are bullish on Bitcoin's long-term potential and are accumulating the asset for the future, contributing to its overall supply scarcity.

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