3 weeks ago
Bitcoin (BTC) miner MARA Holdings (MARA) volition supply 500 BTC to broker Two Prime for generating yields, the companies said connected Thursday.
The woody volition heighten the existing concern betwixt the 2 crypto firms, the SEC-registered Two Prime has provided bitcoin-backed loans to MARA.
Recently, MARA announced its first-quarter results which missed Wall Street-estimates. However, the company's absorption connected cost-cutting was viewed positively by analysts.
Read more: Bitcoin Miner MARA Stock Surges Despite Earnings Miss arsenic Analysts Applaud Cost Cutting
"MARA has 1 of the largest bitcoin firm treasuries successful the world, and they're mounting the modular for however organization holders tin responsibly unlock its value," Two Prime CEO, Alexander Blume said successful a property release.
"This expanded concern is astir much than conscionable output – it's astir gathering a exemplary for superior efficiency, transparency, and risk-aware innovation successful integer plus management," Blume added.
Last month, galore listed bitcoin miners were forced to currency retired immoderate of their holdings, according to TheMinerMag. The mining quality outlet's latest probe revealed that nationalist miners sold 115% of their bitcoin accumulation successful April — meaning they sold much than they produced. That is the highest ratio since the process extremity of the 2022 carnivore market.
Read more: Bitcoin Miners Sold Record Amount of BTC Ahead of May's Price Surge
UPDATE (May 22, 11:00 UTC): Adds remark from Two Prime and inheritance connected bitcoin miners.
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