Bitcoin (BTC) mining company Marathon Digital Holdings is now understood to be the second-largest holder of Bitcoin in the world among publicly-listed companies.

During the company’s third-quarter earnings call on Nov. 8, Marathon Digital CEO Fred Thiel revealed the company now holds 11,300 BTC, worth around $205 million at the time of writing, “making Marathon the second largest holder of Bitcoin among publicly traded companies worldwide, ” referring to unnamed third-party data.

According to CoinGecko, the Nasdaq-listed crypto miner is ranked second only to MicroStrategy Inc., which holds nearly 130,000 BTC. It’s followed by crypto exchange Coinbase and Jack Dorsey-founded payments company Block Inc.

The company reported its third-quarter earnings on Nov. 8, noting that it added 616 BTC to its holdings in the quarter, while another 615 BTC was added in the month of October alone — the most productive month in the company’s history.

“The consistent improvement in our Bitcoin production is the direct result of increasing our hash rates by bringing more Bitcoin servers online and improving those servers,” said Thiel during the conference call.

The Marathon Digital CEO also confirmed that to date, the company still has not sold any of its Bitcoin, and will continue to take that position unless deemed “necessary to cover operating expenses or other expenses.”

This differs from other major miners such as Argo, Bitfarms, Core Scientific and Riot Blockchain, all of whom had reported selling coins in order to pay bills.

Thiel also used the call to make mention the “battle” between Binance CEO Changpeng Zhao and Sam Bankman-Fried — which he says is causing “turmoil” for the price of Bitcoin but said it would likely come back to a range of around $18,000 to $20,000, which they “feel very comfortable” in.

The Bitcoin miner’s earnings however took a beating in the third quarter, with its net loss nearly tripling compared to the prior year, reaching $75.4 million, while revenue fell 75.5% year-on-year to $12.7 billion.

Both metrics failed to meet analysts’ expectations as the miner’s exit from its Montana facility and falling Bitcoin prices led to lower BTC production in the quarter.

Thiel called the third quarter a period of “transition and rebuilding” after its exit from Hardin and it begins out capabilities in new locations, including the King Mountain wind farm in Texas.

Related: Bitcoin miner Iris Energy faces $103M default claim from creditors

On Nov. 7, rival Bitcoin mining firm Riot Blockchain also reported third-quarter earnings which had missed analyst expectations.

The firm’s total revenue declined 28.5% in the third quarter while its net loss widened 139.2% due to “significant curtailment activities” relating to its activities in Texas and a significant decrease in the market price of Bitcoin compared to a year ago.

Both Riot Blockchain and Marathon Digital’s stock prices have declined over the past five days, with Riot Blockchain’s stocks down 17.62% and Marathon Digital’s down 18.02% in the past five days, according to Google Finance.