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.
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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
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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.
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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
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21 sats \ 0 replies \ @Satosora 26 Jul
No, miners are buying it because they know the price is going to increase soon.
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21 sats \ 2 replies \ @JesseJames 26 Jul
Sign of an upcoming pump, maybe?
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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
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21 sats \ 0 replies \ @jp305 26 Jul
and if bitcoin pumps, fees should get higher, making mining more profitable
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0 sats \ 0 replies \ @aideaker 26 Jul outlawed
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0 sats \ 0 replies \ @77edb424fc 26 Jul outlawed
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