Fred Thiel, CEO of crypto mining company Marathon Digital, said in an interview that he plans to acquire rival Bitcoin mining companies and related infrastructure within the next two years. "We intend to expand significantly in 2024 and 2025. We will become the consolidator of the industry."
Thiel believes that if the SEC approves a Bitcoin spot ETF, it should be beneficial to mining companies because it will boost the overall market demand for cryptocurrencies.
Marathon Digital, which is based in Las Vegas, has seen its stock rise more than 400% this year, while the price of Bitcoin has risen about 160% during the same period. (Bloomberg)