Bitcoin miner Marathon Digital acquires 400 BTC worth $45.9 million following a 13% market drop, reinforcing institutional confidence amid price volatility.
Marathon Digital Buys the Dip Amid Bitcoin Volatility
Leading bitcoin mining firm Marathon Digital Holdings (NASDAQ: MARA) has expanded its cryptocurrency reserves by acquiring an additional 400 BTC valued at approximately $45.9 million, according to recent on-chain data. The purchase occurred after Bitcoinâs sharp 13% decline triggered by renewed U.S.âChina tariff tensions, which temporarily unsettled global risk assets.
Despite the steep fall, Marathonâs latest acquisition highlights institutional accumulation during market downturns, a pattern historically seen before major price recoveries.
Institutional Accumulation Continues Through FalconX
Blockchain analytics tracked the transaction through FalconX, revealing Marathonâs active accumulation strategy. The miner now holds about 52,850 BTC, currently worth around $6.06 billion, further solidifying its position as one of the largest corporate holders of Bitcoin.
âSuch consistent accumulation from mining firms indicates long-term confidence in Bitcoinâs macro trajectory,â said BITX market analyst. âWhen miners buy rather than sell, it often marks a strong signal of institutional conviction.â
Data also shows Marathon produced 218 blocks in September, a 5% rise from August, even as the global hashrate surged 9% to an average of 1,031 EH/s â underscoring the minerâs growing operational strength.
At the time of reporting, Bitcoin traded near $114,800, recovering about 3% in the last 24 hours. However, analysts caution that BTCâs inability to hold above key resistance levels traced from the 2017 and 2021 highs could open the door for another retest of $100,000.
âWeâre witnessing a consolidation phase where smart money is buying into weakness,â noted BITX crypto strategist. âInstitutional flows, low exchange balances, and steady ETF inflows all point to a longer-term bullish setup despite short-term uncertainty.â
Even after the sharp correction that erased roughly $65 billion in open interest, sentiment remains cautiously optimistic. With exchange balances near cycle lows and ETF demand still robust, the recent dip appears to have attracted fresh capital rather than fear-driven exits â marking a potential foundation for Bitcoinâs next major rally.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.