On Wednesday, Marathon Digital Holdings, one of the biggest publicly traded Bitcoin mining firms in the market, confirmed that it will continue to support new Bitcoin networks and protocols. The company’s most recent innovation, Anduro, is a multi-chain ecosystem that links to the Bitcoin blockchain. It is a project that it prioritizes.
According to Marathon Digital CEO Fred Thiel, Anduro helps to ensure the long-term viability of Bitcoin by pushing miners to protect both Bitcoin and related sidechains.
Furthermore, Anduro mining employs “merge mining,” which means that miners receive incentives for sidechain transactions while mining Bitcoin.
According to Thiel, Anduro’s value stems from its capacity for Bitcoin holders and developers to build on Bitcoin. Sidechains evaluate other transactions and new smart contracts that could benefit the Bitcoin network through merge mining.
Marathon sees Web 3.0 as the next step for Anduro, a cryptocurrency financial services company. Ordinals, according to the organization, serve as the framework for its future growth.
Marathon Digital Group sold $35 million worth of Bitcoin for $68.9 million in January 2023 to fund Anduro and related initiatives. At the end of 2022, the marathon held 10,200 Bitcoins worth $170 million.
Ordinals focuses on bridging the gap between fiat currency and Bitcoin, including the blockchain-based tokenization of securities. Anduro’s technical platform can help to construct outstanding utility sidechains because it facilitates varied financial activities.
In 2023, the corporation made more than $500 million from bitcoin mining. Marathon appears to be interested in playing a crucial part in Bitcoin infrastructure, in addition to mining.
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