Marathon Digital Holdings Partners with Fidelity Digital for Bitcoin Custody and Diversification
Bitcoin miner Marathon Digital plans to diversify its bitcoin custody by adding Fidelity Digital Asset as a second custodian, in an effort to mitigate risk. Marathon currently custodies all its bitcoin with a single provider but aims to expand further and add more custodians. The decision comes after recent hacking incidents targeting custodians, highlighting the importance of secure storage for digital assets. Marathon's stock rose 1.3% in post-market trading, and the company has seen a 116% increase in its stock price this year, outperforming bitcoin's 71% climb.