Bitcoin miner cashes out its jackpot, says 'AI datacenters' are the new hotness.
Original headline: Bitcoin miner MARA sold 13,597 BTC for $1.1 billion in six weeks, plans to sell more — coindesk.com
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A major publicly-traded Bitcoin mining company, Marathon Digital Holdings (ticker MARA), has sold off a massive chunk of its digital treasure. Over six weeks, they dumped 13,597 Bitcoin for a staggering $1.1 billion in cash. The sale allowed the company to pay off all its loans that were backed by Bitcoin, freeing it from debt obligations tied to the volatile crypto market.
This move signals a classic pivot in the tech hype cycle. Having generated a huge amount of cash from its mining operations, MARA is now planning to sell even more of its remaining Bitcoin stash. The stated goal? To fund a new business line: building AI datacenters. It's the latest example of a company chasing the next big thing, using profits from one speculative frontier to bankroll a leap into another.
Read the original at coindesk.com
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