The post Bitcoin Miner MARA Acquires 15,574 BTC For $1.53 Billion appeared on BitcoinEthereumNews.com.

Bitcoin miner MARA Holdings announced that it has bought 15,574 BTC with a total value of $1.53 billion, bringing its total number of Bitcoin held to 44,394 BTC, making the firm the publicly traded company with the largest reserves of Bitcoin. Bitcoin Miner MARA Buys 15,574 BTC for $1.53 Billion In a filing to the SEC, MARA said the acquisition was financed with proceeds from its recently completed zero-coupon convertible notes offerings. The firm also said it had repurchased about $263 million in aggregate principal amount of its existing convertible notes due 2026. It intends to use the remaining proceeds of the notes to acquire more Bitcoin. MARA raised $1.925 billion from 0% convertible notes in November and December. Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 15,574 BTC for ~$1.53 billion at ~$98,529 per #bitcoin and repurchased ~$263 million in aggregate principal amount… pic.twitter.com/ycGRk9BYfv — MARA (@MARAHoldings) December 19, 2024 The company announced that it had acquired the Bitcoins at an average price of $96,000 per BTC. MARA also pointed out a Bitcoin yield of 12.3% QTD and 47.6% YTD. With this transaction, MARA now possesses 40,435 BTC, worth about $3.9 billion at current market prices. The move is reminiscent of a strategy popularized by MicroStrategy’s Michael Saylor, focused on large-scale Bitcoin accumulation. Saylor recently stated he sees MARA Holdings entering Nasdaq 100 Index soon. Buying Spree After the Price Drop MARA announced the purchase just a day after Federal Reserve Chair Jerome Powell clarified that the central bank cannot own Bitcoin. The timing of the news coincided with a plunge in markets. Bitcoin fell 5% in its biggest plunge in more than three months as a wider sell-off was sparked by the Fed’s hawkish comments. The comments mentioned the trajectory of interest rates and…

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Filed under: News - @ December 19, 2024 11:27 pm