Fred Thiel, the CEO of MARA Holdings MARA, discussed on Wednesday the company’s active collaboration with President Donald Trump’s administration to bolster Bitcoin BTC/USD mining in the U.S.
What happened: During the company’s fourth-quarter earnings call, Thiel said MARA was committed to mining blocks domestically, highlighting how it labels every Bitcoin block it produces as “made in USA.”
“Because we believe it’s a strategic importance to the U. S., not just having a strategic reserve of Bitcoin but also having a predominant amount of block space such that the U. S. can project power and defend the Bitcoin blockchain, regardless of what other nations do,” Thiel emphasized.
Thiel assured that MARA will continue to work closely with the executive and legislative branches of the government, at federal and state levels, to ensure the industry’s best interests are represented and implemented.
See Also: GameStop-Themed Cryptos Soar After Vivek Ramaswamy Co-Founded Firm’s CEO Urges Bitcoin Investment: Graduate From Being ‘Meme Stock’ To Sector Leader
Why It Matters: President Donald Trump promised full support for the industry during his presidential campaign last year, with a vision to mine all remaining Bitcoins in the U.S.
Notably, U.S. miners controlled over 30% of the global network hash rate, according to a research report released last month, marking a 9% increase in market share since April’s halving
The remarks come in the wake of MARA’s record-breaking fourth-quarter earnings, with revenue and earnings beating analysts’ expectations.
The company held 44,893 BTC at the end of the fiscal year, purchasing 15,574 BTC in the fourth quarter
Price Action: Shares of MARA pumped 7.47% in after-hours trading, after closing 0.28% higher at $12.45 during Wednesday’s regular session, according to data from Benzinga Pro. Year-to-date, the stock was down 25.76%.
Image via Shutterstock
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