Marathon Digital Holdings is making waves. The US-based Bitcoin mining firm has a new trick up its sleeve. They're stamping "Made in USA" on all Bitcoin blocks they mine stateside.
The company announced this move on X. "MARA is Team USA, proudly declared in each American-made bitcoin block we mine," they wrote.
CEO Fred Thiel is all in on this patriotic push. He's committed to labeling US-mined blocks with the stamp. Every block from their MARA Pool in the States will get the "Made in USA" tag.
Thiel's pretty chuffed about it. He reckons Marathon's the only big player who can pull this off. "The only large scale miner who can do this because we run our own pool," he boasted.
This stunt follows Donald Trump's recent Bitcoin comments. The presidential hopeful wants all remaining Bitcoin to be "Made in the USA." He made this claim on his social media platform, Truth Social.
Trump sees Bitcoin as a potential shield. He thinks it could be "our last line of defense" against a central bank digital currency (CBDC). But not everyone's on the same page. Federal Reserve Chair Jerome Powell said in March that the US is "nowhere near" any form of CBDC.
At the Bitcoin 2024 conference, Thiel shared his two cents. He reckons Bitcoin mining could "flourish" under Trump. The exec thinks Republicans have "seized the day" on this topic.
Marathon Digital isn't just stamping Bitcoin. They're also buying it up like there's no tomorrow. On July 25, they snapped up $100 million worth of BTC as a treasury reserve asset.
The company's going "full hodl" on Bitcoin. That's crypto-speak for holding onto their coins for dear life. They're not stopping there, either.
On August 12, Marathon announced a $250 million offering of senior convertible notes. The plan? Use the cash to buy even more Bitcoin. Looks like they're betting big on the red, white, and blue of Bitcoin mining.
