Riot Blockchain announced it mined 516 Bitcoin in December, valued at $52.8 million at current prices. The company confirmed that it retained the entire amount, underscoring its long-term accumulation strategy. Riot’s consistent mining operations highlight the growing scale of institutional participation in the BTC ecosystem.
Alongside Riot, MARA Leads Bitcoin Miners’ HODL Saga
In a related development, Fred Thiel, CEO of MARA, recently urged retail investors to consider Bitcoin as a long-term investment. Speaking in an interview, Thiel pointed out BTC’s robust performance over its 14-year history, noting that the asset has experienced annual losses in only three years.
Among these, one was during the market-wide downturn caused by the COVID-19 pandemic. Historically, Bitcoin’s annual average returns have ranged between 29% and 50%,” Thiel said.
Thiel also recommended a disciplined investment approach, suggesting regular, modest allocations to Bitcoin. Sharing his personal investment advice, he revealed, “I encourage my children to invest a small amount in Bitcoin each month and let it compound over time.”
JUST IN: Riot mined 516 #Bitcoin worth $52.8 MILLION in December 💥
They HODLed all of it 👏 pic.twitter.com/m61u6jPbnQ
— Bitcoin Magazine (@BitcoinMagazine) January 6, 2025
MARA’s own commitment to Bitcoin was evident in its latest report, released on January 3, detailing its operations for 2024. The company ended the year with 44,893 BTC in reserves, equivalent to approximately $4.4 billion. This included 9,457 BTC mined during the year and 22,065 BTC acquired at an average price of $87,205.
MARA’s Bitcoin yield per diluted share was 62.7% for the year, reflecting efficient operations and strategic investment in the flagship crypto. Both Riot and MARA’s activities underscore the increasing institutional focus on Bitcoin as a viable investment and store of value.
Also Read: Bitcoin Breaks $102K Mark; Beginning of New Bull Cycle?
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