Which miners hodl the most bitcoin?

Most public bitcoin miners aim to keep as much as possible of the bitcoin they mine. Why do they pursue this balance sheet strategy, and which miners hodl the most bitcoin?
Source: Public filings (Marathon, Core Scientific, Hut 8, Riot, Bitfarms, Argo, Hive, Bit Digital, CleanSpark, Cathedra)

Marathon owns the most bitcoin, currently holding 8,956 BTC. Half of their bitcoin is self-mined, but they also bought 4,813 BTC in January 2021. While some other miners aim to be vertically integrated and own their own data centers, Marathon only invests in ASICs and bitcoin.

Core Scientific is the second-largest bitcoin hodler of the miners, with 7,355 BTC. We find Hut 8 with 6,115 BTC in third place and Riot in fourth place with 5,783 BTC.

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