The post MARA Bitcoin Investment Boosted With 11,774 BTC Purchase appeared on BitcoinEthereumNews.com.

Key Points: MARA Holdings purchased 11,774 BTC for $1.1 billion, financed through zero-interest convertible notes. MARA Bitcoin investment remains behind MicroStrategy, which leads with 423,650 BTC after recently acquiring 21,550 BTC for $2.1 billion. MARA Holdings, one of the largest Bitcoin mining companies, announced that it had acquired 11,774 BTC for $1.1 billion, averaging $96,000 per Bitcoin. Read more: Bitcoin Miner MARA Expands Mining With New 114-Megawatt Wind Farm MARA Bitcoin Investment Boosted with $1.1 Billion Purchase MARA confirmed the purchase in a filing with the Securities and Exchange Commission and shared details on X. MARA Bitcoin investment was financed using proceeds from the company’s issuance of zero-interest convertible notes. This purchase took the holdings of MARA to 40,435 BTC, valued at approximately $3.9 billion, using the current spot price of $96,500 as of December 9, 2024. Besides the purchase, MARA posted year-to-date Bitcoin returns of 47.6% and quarter-to-date returns of 12.3%, underlining its profitability in the highly volatile cryptocurrency market. This feat has caught the attention of. MicroStrategy co-founder and avid Bitcoin proponent. Michael Saylor publicly recognized MARA’s strong returns. Second-Largest Public Bitcoin Holder Secures 40,435 BTC MARA Bitcoin investment is in quick succession after MicroStrategy recently bought 21,550 BTC for $2.1 billion. MicroStrategy remains the largest public company holding Bitcoin, with 423,650 BTC by a big margin over MARA. The new purchase, however, cements MARA’s position as the second-largest corporate holder of Bitcoin. This shows a deeper rivalry between Marathon Digital and MicroStrategy over being major players in corporate Bitcoin investment. The rivalry only grows stronger by the day, it would appear, with the greater interest taken from public companies in the virtual asset. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before…

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Filed under: News - @ December 10, 2024 3:19 pm