Marathon Patent Group, the Nasdaq-listed cryptocurrency mining company, purchased $150 million in Bitcoin at the price of $31,000 per coin amid the recent dip.
Over the past weeks, Bitcoin has experienced some volatility. The cryptocurrency has dropped to the range of $30,000 and $40,000, even falling below the former level at one point in time in a move that scared bulls.
The growing Bitcoin price leads its energy consumption to soar accordingly. With the aim of keeping the network secure, miners are encouraged to run nodes and are paid in BTC.
Bitcoin has broken through $30,000 and $40,000 in concession amid its recent strong uptrend, which also draws a number of interests from all walks in the market.