Overview

• Blockchain data from Arkham, surfaced by Lookonchain, showed Marathon bought 400 BTC for about $46 million through FalconX.
• The purchase lifts reported holdings to roughly 52,850–53,250 BTC, keeping the miner second to MicroStrategy among corporate treasuries.
• The buy followed Friday’s plunge tied by outlets to renewed U.S.–China tariff threats, with some traders pointing instead to Binance technical issues.
• Estimates of the shakeout differ, from roughly $19 billion in positions liquidated to about $65 billion in open interest erased.
• Bitcoin recovered to around $114,800 after President Trump softened his tariff rhetoric, and Marathon’s buying capacity is bolstered by an $850 million zero‑coupon convertible note offering announced in August.