Leading Bitcoin BTC/USD miner Marathon Digital Holdings Inc. MARA announced that each block mined by the company's MARA Pool will be labeled “Made in USA.”
What Happened: Marathon Digital CEO Fred Thiel made the announcement Monday, claiming to be the only large-scale mining company capable of carrying out this activity.
"The only large-scale miner who can do this because we run our own pool and ensure that all the blocks mined by MARA Pool are made in the USA,” Thiel said
Benzinga checked the blocks produced by the MARA Pool using Bitcoin’s mempool explorer, and they were indeed imprinted with “Made in USA.”
Why It Matters: Marathon Digital's commitment came months after former President Donald Trump's assured full support to the industry, with a vision to mine all remaining Bitcoins in the U.S.
He also had a meeting with executives from leading U.S.-based Bitcoin mining companies at his Mar-a-Lago resort, including Matthew Schultz, executive chairman at CleanSpark Inc. CLSK, and Jason Les, CEO and director of Riot Platforms Inc. RIOT.
However, such objectives confront increased global competition as nations that were restrained previously have started opening up to the potential of Bitcoin mining. Last week, Russian President Vladimir Putin greenlighted a law that would legalize cryptocurrency mining in the country.
Price Action: At the time of writing, Bitcoin was trading just below $59,074.96, up 0.47%, according to data from Benzinga Pro. Shares of Marathon Digital were trading 0.73% higher pre-market, after closing 11.3% lower at $15.11 during Monday's regular session.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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