Bitcoin mining company MARA Holdings spent over $869,000 on bulletproof vehicle armor services for executives.

According to Odaily, Bitcoin mining company MARA Holdings' latest DEF14A compensation table shows that the company paid $4.3 million in personal security-related expenses for CEO Fred Thiel under its security program. This includes a one-time vehicle bulletproofing cost of $430,000 and a home security installation fee of $58,000. The company also paid $3.946 million in personal security expenses for CFO Salman Khan, which includes a one-time vehicle bulletproofing cost of $438,000.

MARA Holdings' board of directors stated that, due to the company's public disclosure of holding a substantial amount of Bitcoin assets, executives are exposed to significantly higher risks compared to other listed companies. Therefore, providing the above-mentioned security measures is commercially relevant and absolutely necessary. (FT)