Riot Mines $52M Bitcoin in December, Adopts HODL Strategy

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.