Large mining company MARA increased its holdings of nearly $130 million in Bitcoin in July, with a t

MARA (formerly Marathon Digital), the world's largest Bitcoin mining listed company by market capitalization, continues to increase its Bitcoin holdings as part of its "comprehensive HODL" strategy.

According to the July Bitcoin production and mining operations update released by MARA on Tuesday (6th), the company increased its holdings of a total of 2282 bitcoins in July, with a value of nearly $130 million calculated based on the Bitcoin trading price of $56950 as of the deadline. This brings MARA's Bitcoin holdings to 20818 BTC, worth approximately $1.18 billion.

According to previous reports from Zombie, MARA announced on July 25th that it has purchased an additional $100 million worth of Bitcoin and will adopt a comprehensive "HODL" strategy for its Bitcoin financial policies, retaining all Bitcoin mined in its operations and conducting strategic public market purchases on a regular basis.

MARA Chairman and CEO Fred Thiel stated at the time that adopting a comprehensive HODL strategy reflects the company's confidence in the long-term value of Bitcoin, stating, 'We believe Bitcoin is the best financial reserve asset in the world.'.

The Bitcoin halving in April this year forced mining companies to adjust their operational strategies to cope with the decline in revenue. MARA sold 390 bitcoins in May and announced its Kaspa ($KAS) mining business in June to achieve revenue diversification. MARA's recent strategic shift demonstrates a positive development.

Monthly Bitcoin production increases by 17%

In addition to buying Bitcoin, MARA's Bitcoin production increased to 692 BTC in July, with a monthly growth rate of 17%. According to Thiel, the company's memory block wins have also increased by 27% in the past month. He wrote in the announcement:

Last month's BTC production increased by 17% compared to June, reaching 692 BTC. Our average operating hash rate (computing power) increased by 5% during the same period, reaching 27.5 EH/s. As global hash rates go offline due to lower BTC prices, we will continue to actively mine and use all the tools related to the mining economy at our disposal to achieve maximum production capacity

According to the announcement, MARA holds a total value of nearly $1.6 billion in Bitcoin, cash, and cash equivalents.

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