KEYTAKEAWAYS
- Marathon Digital to stamp "Made in USA" on Bitcoin blocks mined in the US.
- Move follows Trump's statement on American-made Bitcoin.
CONTENT
In a groundbreaking move, the US-based Bitcoin mining giant introduces patriotic labeling to their mined blocks, aligning with former President Trump’s call for American-made Bitcoin. This innovative approach sets a new standard in the cryptocurrency mining industry.
Marathon Digital Holdings, a prominent US-based Bitcoin mining firm, has unveiled a pioneering initiative to stamp “Made in USA” on all Bitcoin blocks mined within the United States. This innovative move marks a significant shift in the cryptocurrency mining landscape, blending patriotism with digital currency production.
MARA is Team USA, proudly declared in each American-made bitcoin block we mine. #MadeInUSA pic.twitter.com/4mFljYfoMi
— MARA (@MarathonDH) August 12, 2024
Fred Thiel, CEO of Marathon Digital, emphasized the company’s commitment to this new labeling strategy. “Every block mined by our MARA Pool in the United States will proudly bear the ‘Made in USA’ stamp,” Thiel stated. He further highlighted Marathon’s unique position in the industry, noting, “We’re the only large-scale miner capable of implementing this, thanks to our proprietary pool operation.”
This initiative comes on the heels of former President Donald Trump’s recent campaign statement on Truth Social, where he expressed a desire for all remaining Bitcoin to be “Made in the USA.” Trump’s comments also touched on the potential role of Bitcoin as a “last line of defense” against central bank digital currencies (CBDCs), despite Federal Reserve Chair Jerome Powell’s assertion in March that the US is “nowhere near” implementing a CBDC.
At the Bitcoin 2024 conference in Nashville, Thiel suggested that Bitcoin mining could potentially thrive under a Trump administration. He observed that Republicans have taken a proactive stance on the topic, while the Democratic party’s energy policy plans remain unclear.
>> Also read: Trump’s Bitcoin Conference Speech Summary: A Turning Point for Crypto in American Politics
Beyond this patriotic labeling initiative, Marathon Digital has been actively expanding its Bitcoin holdings. The company recently acquired $100 million in Bitcoin as a treasury reserve asset, demonstrating its commitment to the “HODL” strategy – a popular term in the crypto community meaning to hold onto assets for the long term.
>> Also read: Michael Saylor｜21 Rules of Bitcoin: Why You Should Never Sell BTC
Furthermore, Marathon Digital announced a $250 million offering of senior convertible notes for institutional buyers, with the intention of using the proceeds to purchase more Bitcoin. This move underscores the company’s bullish outlook on the cryptocurrency’s future.
As the cryptocurrency mining industry continues to evolve, Marathon Digital’s “Made in USA” initiative may set a new precedent, potentially influencing how mining operations are perceived and marketed globally.
>> Also read: MARA Boosts Bitcoin Holdings to Over 20,000 BTC
