Nevada-based crypto mining company Marathon Patent Group purchased 4,812.66 BTC as part of the company\u2019s treasury reserves at an aggregate purchase price of $ 150 million.\r\n\r\nOn Monday, Nasdaq-listed Marathon Patent Group announced that it had purchased 4,813 Bitcoin (BTC) worth about $ 150 million. According to the news in The Block, Marathon CEO Merric Okamoto said that the investment is part of the company\u2019s treasury funds.\r\n\r\nFor now, Marathon Patent Group is seen as the last of the institutional investment influx that started in 2020. Shortly before this one, MicroStrategy made a buy the dip\u2019 with $10 million. With this investment, Marathon joined Grayscale and MicroStrategy, the biggest buyers of the current days. Continuation of BTC purchases in 2021 indicates that the adoption of Bitcoin will increase further.\r\n\r\nThe Bitcoin mining company is buying Bitcoin (BTC) for the first time. The Marathon company significantly expanded its operations last year, intending to become North America\u2019s largest Bitcoin mining firm. Okamoto said the following about the recent investment:\r\n\u201cBy leveraging our cash on hand to invest in bitcoin now, we have transformed our potential to be a pure-play investment into a reality,\u201d said Okamoto. \u201cWe also believe that holding part of our treasury reserves in bitcoin will be a better long-term strategy than holding U.S. dollars, similar to other forward-thinking companies like MicroStrategy.\u201d\r\nMerrick Okamoto, the company\u2019s CEO, stated that they offer a good option for investors who want to buy a new asset class. The transaction was carried out through cryptocurrency financial services firm NYDIG. The company purchased 4,813 units of BTC at $ 31,135 per unit on January 21.\r\n\r\n\r\nBuys BTC From the Market for the First Time\r\nMarathon Patent Group (MARA) has been mining Bitcoin since late 2017. Okamoto said it currently has 2,560 BTC miners producing about 1.5 to 2 BTC per day and that Marathon expects to have more than 100,000 miners soon.\r\n\r\nMarathon recently ordered 100,500 advanced S19 miners from Bitmain for about $ 270 million to expand its operations. The CEO said he believes this will take the hash rate capacity and make the company the world\u2019s largest BTC miner.\r\n\r\nMarathon\u2018s share rose 892% last year, and MicroStrategy\u2019s shares rose 166% compared to Bitcoin\u2019s gain of about 300% in the year. When asked if Marathon will invest more in Bitcoin, according to The Block, Okamoto said, \u201cto be determined.\u201d\r\n\r\n#coinsfera #cryptonews #cryptocurrency #buybitcoinistanbul #buybitcoindubai #buybitcoinkosovo #buybitcoinwithcash #sellbitcoinwithcash #buybitcoin #sellbitcoin\r\n\r\nDisclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.