Bitcoin miner MarathonDH may start to sell some of the bitcoins it mines, but the company says that any sale is not imminent. Reports Aoyon_A
If Marathon sells some of its bitcoins, it would be in-line with its peer, Riot Blockchain , which was also a hodler, until recently. Riotworth of bitcoins in April, after selling about $9.4 million in March. The company said that it is evaluating the level of coins it retains from its monthly bitcoin mining for its operational and expansion cash requirements.
Selling a few bitcoins to backstop expenses would likely be positive news for Marathon shareholders, because it would be a less expensive means of financing. Recently, equipment financing and bitcoin-backed loans have become an trend among miners, as shareholders have been punishing miners that are raising capital by issuing shares.Marathon didn’t dissect its capital needs, but in the conference call, Gallagher indicated that the miner may need about a half-billion dollars in investments for the remainder of the year for the mining computers it needs to grow, for both orders that have been made and planned., that its cash on hand was $118.