Marathon Digital Holdings, Inc. (NASDAQ:MARA), a key player focused on supporting and securing the Bitcoin ecosystem, has added Anchorage Digital Bank National Association, a “secure” custodian and the only federally chartered crypto bank, “as a bitcoin custodian, increasing the number of Marathon’s bitcoin custodians from two to three.”
As of November 30, 2023, Marathon has reportedly “held 14,025 bitcoin on its balance sheet.”
With the company’s bitcoin production and treasury continuing to expand, Marathon has opted to “add another enterprise-grade custodian to help diversify its treasury.”
Anchorage Digital Bank claims it is “the third custodian Marathon has engaged to custody its bitcoin and the second the Company has added in the fourth quarter of 2023.”
Marathon may continue to “further diversify its bitcoin custody across additional custodians in the future.”
Salman Khan, Marathon’s chief financial officer, said:
“The addition of Anchorage Digital Bank demonstrates our ongoing commitment to securely managing and diversifying our bitcoin holdings. We started the month with over 14,000 bitcoin on our balance sheet, and with our operations continuing to grow, we believe it is prudent to continue diversifying these holdings. Anchorage Digital Bank’s regulatory status and solutions are well regarded in the industry, and we look forward to working alongside them.”
Diogo Mónica, President and Co-Founder at Anchorage Digital Bank added:
“Marathon is one of the leading Bitcoin miners and one of the largest holders of bitcoin in the industry. Their onboarding is a testament to the security and functionality of the solutions that Anchorage Digital Bank provides. We look forward to helping them achieve their strategic objectives.”
As covered, Marathon is a digital asset technology company “that focuses on supporting and securing the Bitcoin ecosystem.
As noted in the announcement, the company says that it is “currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America.”