Under Fred Thiel's leadership, MARA Holdings (previously Marathon Digital Holdings) has surged to become one of the leading Bitcoin miners globally, boasting a corporate Bitcoin reserve valued at approximately $3.9 billion.

Thiel initially joined MARA as a director in 2018 and ascended to the role of CEO in 2021. During his tenure, he has successfully steered the company through the booming market of 2021 as well as through the tough crypto winter that followed. His strategy has centered on a Bitcoin-focused business model, while many other miners shifted to AI services due to narrower profit margins following the latest Bitcoin halving.

MARA has notably embraced a strategy akin to that of MicroStrategy's Michael Saylor, purchasing substantial amounts of Bitcoin directly from the market. Recently, the company raised $1 billion, enabling further acquisitions of Bitcoin. This decisive action positions Thiel as a prominent figure in the Bitcoin mining sector, reminiscent of Saylor’s approach.