BTC Mining Firm Marathon (MARA) Recovers 400 BTC After Price Drop, On-Chain Data Shows

Marathon Digital Holdings (NASDAQ: MARA) appears to have taken advantage of Friday’s market turmoil to stock up on Bitcoin. according to data kept by Arkham Intelligence.

Marathon Digital Holdings, which holds approximately 52,850 BTC (worth approximately $6.06 billion), purchased an additional 400 BTC worth approximately $45.9 million through FalconX early Monday, according to Arkham Intelligence data tracked by Blockchain Detective. Lookonchain.

MARA’s move suggests that businesses and miners are once again accumulating BTC amid volatility similar to trends seen in previous market resets. The miner produced 218 blocks in September, a 5% increase from August, as the global hashrate increased 9% month-over-month to an average of 1,031 EH/s.

CoinDesk has contacted MARA for official confirmation.

Bitcoin plunged nearly 13% in an hour on Friday after new tariff threats between the United States and China sparked a global wave of risk aversion, wiping out about $65 billion in open interest, although some market participants suggested the real culprit of the crash was Binance, with internal errors causing the assets to become unanchored.

At the time of writing, bitcoin was trading near $114,800, up about 3% in the past 24 hours as trade tensions ease between Washington and Beijing.

BTC’s inability to sustain gains above the long-term resistance trendline from 2017 and 2021 highs could open the door to a retest of $100,000, according to CoinDesk analysts.

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