MARA Purchases $100 Million of Bitcoin

About this update from Mara Holdings, Inc.

[{"type":"text","content":"MARA Updates Treasury Policy to HODL All Bitcoin; Current Bitcoin Holdings Surpass 20,000 BTC Fort Lauderdale, FL, July 25, 2024 (GLOBE NEWSWIRE) -- MARA (NASDAQ: MARA) (\"MARA” or the \"Company\"), a global leader in leveraging digital asset compute to support the energy transformation, today announced that it has purchased $100 million of bitcoin and currently holds over 20,000 BTC on its balance sheet. Furthermore, effective immediately, MARA will adopt a full HODL approach towards its bitcoin treasury policy, retaining all bitcoin mined in its operations, and will periodically make strategic open market purchases. \"Adopting a full HODL strategy reflects our confidence in the long-term value of bitcoin,\" said Fred Thiel, MARA’s chairman and CEO. \"We believe bitcoin is the world’s best treasury reserve asset and support the idea of sovereign wealth funds holding it. We encourage governments and corporations to all hold bitcoin as a reserve asset.” “Prior to last year, the company used to hold all of its bitcoin,” said Salman Khan, MARA’s chief financial officer. “Given Bitcoin’s current tailwinds, including increased institutional support and an improving macro environment, we are once again implementing this strategy and focusing on growing the amount we hold on our balance sheet. Bitcoin’s recent price decline, coupled with the strength of our balance sheet, afforded us an opportunity to add to our holdings. We look forward to continuing to leverage our technological expertise to support Bitcoin and distributed digital asset ecosystems.” Investor Notice Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under the heading \"Risk Factors\" in our most recent annual report on Form 10-K, and any other periodic reports that we may file with the U.S. Securities and Exchange Commission (the “SEC”). If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair ou...

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