BTC Mining Firm Marathon (MARA) Scoops Up 400 BTC After Price Crash, On-Chain Data Show

Marathon Digital Holdings (NASDAQ: MARA) appears to have taken advantage of Friday's market turmoil to load up on bitcoin $BTC$114,973.06, according to data curated by Arkham Intelligence.

Marathon Digital Holdings, which holds about 52,850 $BTC (worth roughly $6.06 billion), purchased an additional 400 $BTC valued at about $45.9 million through FalconX early Monday, according to Arkham Intelligence data tracked by blockchain sleuth Lookonchain.

MARA's move suggests that corporates and miners are once again accumulating $BTC into volatility, similar to the patterns seen in prior market resets. The miner produced 218 blocks in September, a 5% increase over August, as global hashrate grew 9% month-over-month to an average of 1,031 EH/s.

CoinDesk reached out to MARA for official confirmation.

Bitcoin plunged nearly 13% within an hour on Friday after renewed U.S.–China tariff threats sparked a global risk-off wave, wiping out about $65 billion in open interest, although some market stakeholders suggest the real culprit in the crash was Binance, with internal errors causing assets to de-peg.

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

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