Crypto Miner Marathon Patent Group Buys $150M in Bitcoin.

[Malam90]

The Nasdaq-listed mining company wants to become a "pure-play bitcoin investment option" for Wall Street.
Cryptocurrency mining company Marathon Patent Group bought $150 million in bitcoin for around $31,100 apiece during the crypto asset’s recent price rout.

The Nasdaq-listed firm said Monday it purchased the bitcoins through institutional bitcoin (BTC, +5.52%) shop NYDIG. Marathon is the latest publicly traded company to swap a cash treasury for bitcoin, and, with 4,812.66 BTC now on the books, one of the largest by sheer investment size.

Marathon CEO Merrick Okamoto said in a statement the bitcoin buy “accelerates” his mining company’s transformation into a “pure-play bitcoin investment option” for crypto-hungry Wall Street traders. Source