6 months ago
Under Fred Thiel's leadership, MARA Holdings (MARA) — antecedently known arsenic Marathon Digital Holdings — has go not lone 1 of the largest bitcoin miners successful the satellite but besides the second-largest firm proprietor of bitcoin, with astir $3.9 cardinal worthy connected its equilibrium sheet.
Thiel joined the mining institution successful 2018 arsenic a manager and was appointed CEO successful 2021. Since then, helium has navigated done the bull marketplace of 2021 and the consequent brutal crypto winter. His institution has been focused connected a bitcoin-centric concern model, portion different miners had to pivot to artificial intelligence-related computing arsenic the manufacture faced reduced margins pursuing the caller bitcoin halving event.
Under Thiel, MARA went all-in connected bitcoin by becoming the archetypal miner to travel MicroStrategy enforcement president Michael Saylor’s pb and bargain ample amounts of the integer plus connected the spot market. The institution was adjacent capable to successfully <a href="https://x.com/MARAHoldings/status/1861848253362274469" target="_blank">raise $1 billion</a> precocious to bargain much bitcoin, making Thiel possibly the Michael Saylor of the bitcoin mining industry.
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