The world's largest bitcoin miner can't mine the crypto fast enough

Marathon Digital is the world's largest bitcoin miner, and even it can't get enough of the digital asset.

Marathon said it's seeking to raise $250 million in part to fund bitcoin purchases — essentially making an expensive bet that BTC's price will rise. Bitcoin has had a rollercoaster of a year, hitting a record of more than $73,000 in March before falling below $50,000 earlier this month and then crawling back up to nearly $60,000.

Marathon said it produced 2,058 bitcoin last quarter. That's down from Q1's 2,811.

Notably, April's bitcoin halving slashed miner revenue across the industry.