Marathon Digital sold 1,500 BTC in January, according to a Thursday statement from the company.
The sales were intended to help fund the firm's operations, Marathon said.
“With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes," CEO Fred Thiel said in a statement. "We intend to continue to sell a portion of our bitcoin holdings in 2023 to fund monthly operating costs."
Per the release: "As a result, Marathon holds a total of 11,418 BTC, of which approximately 8,090 BTC (c. $187.2 million) are unrestricted, as of January 31, 2023."
Bitcoin is trading at roughly $23,500 as of press time.
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