The first time that cryptocurrency miner Marathon Digital sold part of the mined Bitcoins was in October 2020.
In January 2023, the company sold 1,500 BTC, abandoning the hodler strategy the company had been following for the past few years.
The company has said that the funds raised will be used to maintain its performance.
Marathon’s CEO Fred Thiel has also noted that the company mined 687 Bitcoins in January. Compared to December 2022, productivity increased by 45%, at the end of 2022, Marathon mined 475 coins.
He has explained:
“We believe that improved operational efficiency has strengthened Marathon’s position and set the stage for successful growth in 2023.”