MARA Holdings Inc. MARA CEO Fred Thiel reiterated the company's commitment to its Bitcoin holding strategy

MARA Holdings Inc (NASDAQ:MARA) CEO Fred Thiel asserted the company’s dedication to its Bitcoin holding strategy, highlighting the potential gains for stockholders, during the first quarter earnings call on Thursday.

What Happened: Highlighting MARA’s distinctive position in the market, Thiel explained that shareholders could benefit from both its Bitcoin HODL play and pure-play mining activities, a twin turbo engine, as he put it.

“We are very busy focused on making sure that we can continue to maximize returns to shareholders,” Thiel said.

He further explained that the decision to pivot to a full HODL strategy was based on a close examination of market conditions and macroeconomic factors, which he believed would yield long-term benefits for MARA stockholders.

“So I think we’re going to continue to see things move up in Bitcoin longer term, which is why we are still in very much a full HODL position,” he added.

See Also: Tether Enables Binance To Convert 3B USDT From Tron To Ethereum

Why It Matters: MARA adopted a buy-and-hold strategy in July of 2024, retaining all Bitcoin it mines and periodically making strategic open market purchases. In March, the firm revealed plans to raise up to $2 billion through a stock offering to expand its Bitcoin treasury.

As of this writing, MARA was the second-largest corporate holder of Bitcoin, having amassed a stockpile of 48,237 BTC, now valued at $4.97 billion, according to Bitcointreasuries.net. Michael Saylor’s Strategy Inc (NASDAQ:MSTR) remained the market leader, boasting over $57 billion in Bitcoin.

MARA reported worse-than-expected first-quarter financials after market close, with revenue and earnings falling short of analyst estimates.

Price Action: Bitcoin (BTC) was trading up 4.22% in the last 24 hours at $103,197.90 at the time of writing.

Shares dipped 1.82% in after-hours trading after closing 7.20% higher during Thursday’s regular session.

MSTR reported low momentum and growth scores as of this writing. To find out how Strategy and other Bitcoin-holding firms stack up on these parameters, visit Benzinga Edge Stock Rankings.