#数字资产市场动态 Major Mining Companies Make Bold Contrarian Moves, Reinforcing BTC Bottom Support

At a time when market sentiment is extremely pessimistic, Marathon Digital did not follow the trend of selling off; instead, they invested more. Data shows that this North American mining giant bought 1,500 BTC at an average price of $87,200 each. Using cash reserves to go against the trend—this stance speaks volumes.

Why does Marathon dare to do this? Just look at their fundamentals. Their Q3 2025 financial report shows a 92% quarter-over-quarter revenue increase, with liquid assets exceeding $7 billion. By the end of Q3, the company had accumulated nearly 53,000 BTC. In other words, this is not a spur-of-the-moment move but a strategy with long-term logic—continuously earning new coins through mining and hedging market volatility with a "HODL" approach. This strategy has outperformed many others over the cycle.

Think about it—how cold is the current market? The fear index is soaring, liquidity is tightening toward the end of the year, and the $87,000 level has become a battleground for bulls and bears. Marathon’s recent buy-in, along with institutions like MicroStrategy increasing their holdings simultaneously, actually signals a growing consensus among large funds about BTC’s scarcity. The data is clear—over 70% of circulating BTC is now held by long-term investors, and exchange reserves are hitting all-time lows. Under this supply-demand pattern, even significant short-term selling pressure cannot damage the overall picture.

Institutional contrarian moves often attract more long-term capital, strengthening the market bottom support. If all goes well, such signals will gradually improve the market sentiment.