pull down to refresh

Marathon is buying Bitcoin instead of Miners
874 sats \ 9 comments \ @KaboomracksAlex 26 Jul bitcoin_Mining
Marathon is buying corn instead of miners. Pretty wild and I don't know what to make it. You would think that a large miner would be able to acquire Bitcoin cheaper than buying it spot.
I would like to say its signalling how bad the mining market is right now but I think there's more to it. Curious to know why.
write
preview
this territory is moderated
related posts
10 sats \ 1 reply \ @Bell_curve 26 Jul
#622119 from @Rsync25
Marathon has been a hodL miner, i.e. they hold more than they sell
Terawulf is the only public miner I am aware of who does not hodL
Being a public company is not easy, being a miner is not easy
Top priority for a public company is maximizing market cap
reply
21 sats \ 0 replies \ @Satosora 26 Jul
The ones that have managed to keep at it this long are ones you can usually follow. If they buy, you should be buying, too.
reply
31 sats \ 0 replies \ @OT 26 Jul
I saw this recently. Could be related in that they aren't competitive enough so need the MicroStrategy play to boost their stock? IDK
reply
21 sats \ 0 replies \ @Satosora 26 Jul
No, miners are buying it because they know the price is going to increase soon.
reply
21 sats \ 2 replies \ @JesseJames 26 Jul
Sign of an upcoming pump, maybe?
reply
21 sats \ 1 reply \ @Zk2u 26 Jul
Yes. If miners are buying that means the price to mine is more than price to buy, or they’re stupid lol
reply
21 sats \ 0 replies \ @jp305 26 Jul
and if bitcoin pumps, fees should get higher, making mining more profitable
reply
0 sats \ 0 replies \ @aideaker 26 Jul outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.
0 sats \ 0 replies \ @77edb424fc 26 Jul outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.