The post Marathon Digital Holdings Increases Bitcoin Position to 34,794 BTC appeared on BitcoinEthereumNews.com.

TLDR MARA (formerly Marathon Digital) acquired 703 BTC at ~$95,395 each Total November purchases: 6,474 BTC (including previous 5,771 BTC) MARA’s total holdings now at 34,794 BTC (~$3.3 billion) Company raised $1 billion through 0% convertible senior notes MARA stock up 7.81% to $26.92, showing 26.92% increase over six months Bitcoin mining company MARA, previously known as Marathon Digital, has announced the purchase of an additional 703 Bitcoin (BTC), continuing its pattern of large-scale cryptocurrency acquisitions. The company made the purchase at an average price of $95,395 per Bitcoin, adding to its growing digital asset portfolio. The latest acquisition brings MARA’s total Bitcoin holdings to 34,794 BTC, valued at approximately $3.3 billion at current market prices. This purchase is part of a larger November buying initiative, which included a previous acquisition of 5,771 BTC, bringing the month’s total purchases to 6,474 Bitcoin. MARA’s expansion of its Bitcoin holdings comes after the company’s successful fundraising efforts earlier this month. The mining firm raised $1 billion through the issuance of convertible senior notes that carry 0% interest and are set to mature in 2030. Part of these funds were allocated to buy back some of the company’s existing 2026 notes. The company has strategically set aside $160 million from the raised funds, earmarking this amount for potential future Bitcoin purchases when market conditions align with their acquisition strategy. This reserve demonstrates MARA’s continued commitment to expanding its cryptocurrency holdings. MARA’s stock performance has shown positive movement in correlation with these developments. The company’s shares closed at $26.92 on November 27, marking a 7.81% increase for the day. Over a six-month period, MARA’s stock price has risen by 26.92%, reflecting growing investor confidence in both the company and the broader digital asset market. With our 0% $1 billion convertible notes offering, we are…

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Filed under: News - @ November 29, 2024 10:20 am