MARA Boosts Its Bitcoin Reserves By Adding 373 BTC in September

Key Takeaways

• MARA Holdings, Inc. digital asset and cryptocurrency mining giant, has added 373 BTC in September.
• The MARA holder ranks second in terms of corporate BTC holding, only second to Strategy. 
• Although BTC is leading the crypto market, the companies are diversifying their reserve with ETH and other emerging cryptocurrencies.
• The companies are increasingly adopting digital assets amid macroeconomic uncertainties

MARA Holdings, Inc. added 373 BTC to its reserves in September, reinforcing its position as the second-largest BTC holder. The corporates are showing increased interest in adding digital currencies to their reserves amid macroeconomic uncertainties. Although BTC and ETH remain the dominant choices, other altcoins such as Solana (SOL) are also gaining ground as viable reserve options.

MARA Adds 373 BTC in September

MARA Holdings, Inc. digital asset and cryptocurrency mining giant, has added 373 BTC in September. The company, as of September, has 52,850 BTC, according to the press release. The MARA holder ranks second in terms of corporate BTC holding, only second to Strategy. 

According to the MARA’s chairman and CEO, Fred Thiel, the company produced 218 blocks in September, which is 5% higher than August. Fred Thiel further noted that growth indicates the company’s ability to execute consistently, even when mining is becoming more difficult. The MARA Holdings, Inc., the leading digital energy and infrastructure company, was started back in 2010. The company currently owns the BTC worth more than $6 billion. It’s also worth noting that the total BTC holding of MARA includes the bitcoin that is loaned, actively managed, or pledged as collateral. The BTC is currently trading above $120,000 and is rallying around $122,000.

The Strategy, on the other hand, has 640,031 BTC in its reserve. The company’s BTC stash reached a $77 billion valuation when the cryptocurrency started trading above $120,000. The overall market capitalization of Michel Seyer’s Strategy surged past even the market cap of Starbucks.

The BTC is rallying around a near-cycle high after breaking the psychological barrier of $120,000. The world’s largest cryptocurrency is predicted to reach new all-time highs, riding on the Uptober sentiments, increased institutional interest, and expected Fed rate cuts. Moreover, some investors are seeing BTC as an alternative haven to hedge against the economic and political uncertainties amid the U.S. government shutdown. 

Altcoins are Also Gaining Ground as the Cooperate Treasury Reserve

Although BTC is leading the crypto market, the companies are diversifying their reserve with ETH and other emerging cryptocurrencies. BitMine Immersion Technologies, Inc. (BMNR), the world’s largest corporate holder of Ethereum (ETH), has acquired around 234,846 ETH in the past month. Its current holding is over 2.1 million ETH. The ETH is currently trading around $4,492.20, and the market cap surged to $ 542.11 billion. The ETH is also trading near its cycle high and above its 200-day Simple Moving Average (SMA).

The institutional interest in other altcoins is also increasing. VisionSys AI Inc. recently announced a Solana-based digital treasury program valued at up to $2 billion. VisionSys AI Inc. focuses on superior AI systems and machine-brain interactions.

The Final Thoughts

The corporates are increasingly adding cryptocurrencies to their treasuries. The trend is seen as a strategy to diversify holdings, hedge against inflation, and leverage the superior earning potential of digital coins. Having digital reserves also allows the strategic positioning of the firms as forward-thinking and technology-centric. Despite the volatile nature of the crypto market, companies are increasingly adopting digital assets amid macroeconomic uncertainties. Crypto experts see it as a sign of the crypto market maturing, but the challenges, such as volatility, regulatory uncertainty, and custody risks, still exist.

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