MARA’s Thiel Advocates for U.S.-Backed Bitcoin Mining to Establish Strategic Holdings

Marathon CEO Presses U.S. to Operationalize Bitcoin Reserve via Domestic Mining

“A strategic reserve is only meaningful if it’s backed by actual accumulation,” Thiel says at Bitcoin 2025.

LAS VEGAS, NV — Fred Thiel, CEO of Marathon Digital Holdings (MARA), is calling on the U.S. government to transition from policy declarations to tangible action by kickstarting bitcoin mining operations to supply the recently proposed strategic bitcoin reserve.

Speaking at the Bitcoin 2025 conference, Thiel highlighted the need for a practical implementation plan that aligns with President Donald Trump’s March executive order, which authorized the formation of a national bitcoin reserve. Thiel argued that utilizing surplus renewable energy — such as hydroelectric capacity — for domestic bitcoin mining would meet the administration’s commitment to a “budget-neutral” approach.

“Strategic declarations are just optics unless they’re followed by concrete execution,” said Thiel. “Mining bitcoin using excess energy resources would be a smart, self-sufficient step forward.”

As it stands, the strategic reserve is expected to consist of bitcoin previously seized by federal agencies — totaling roughly 200,000 BTC. However, many experts and lawmakers, including Senator Cynthia Lummis (R-WY), argue that this should only serve as the foundation of a much larger reserve-building initiative.

Legislative Efforts Face Delays

Senator Lummis reintroduced the BITCOIN Act of 2025 in March, which would formalize the reserve strategy and allow for further acquisition using underperforming government assets, specifically converting portions of gold certificate holdings into bitcoin over a multi-year timeline.

“We already have the resources — we just need to reallocate them strategically,” said Lummis. “This plan could allow the U.S. to acquire 5% of global bitcoin without tapping new funding.”

Despite strong support within the crypto policy sphere, Lummis acknowledged that legislative action is unlikely in the short term, as Congress remains focused on stablecoin frameworks and broader digital asset market structure bills.

“Education remains a barrier,” she noted. “There’s still a significant gap in understanding bitcoin’s strategic value among lawmakers.”

While the U.S. government deliberates, figures like Thiel are pushing for action that aligns rhetoric with results — beginning with mining as a sovereign means of reserve accumulation. The conversation now shifts from if the reserve will be filled, to how soon the U.S. will begin taking the first serious steps.