10:46 AM EDT, 07/25/2024 (MT Newswires) -- MARA (MARA) said Thursday it has purchased $100 million worth of bitcoin and it currently holds more than 20,000 bitcoin on its balance sheet.

The cryptocurrency company, previously known as Marathon Digital Holdings ( MARA ), also said it was adopting a HODL approach for its bitcoin treasury, effective immediately.

HODL, an acronym for "Hold on for Dear Life," means to buy-and-hold indefinitely.

MARA said on Thursday it will retain all bitcoin mined during the course of its regular operations in addition to making strategic open-market purchases.

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