Marathon Digital’s Bitcoin Treasury Expands To 34,794 BTC After Latest $615 Million Buy ⋆ ZyCrypto
The post Marathon Digital’s Bitcoin Treasury Expands To 34,794 BTC After Latest $615 Million Buy ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Top American Bitcoin miner Marathon Digital (renamed to MARA) has added an additional 6,474 Bitcoin worth roughly $615 million through its recent 0% $1 billion convertible notes offering. The Bitcoin mining giant has set aside $160 million in remaining proceeds to buy more of the leading cryptocurrency at market dips. Marathon Digital’s Bold Bitcoin Bet In a Nov. 28 post on the X platform, MARA announced that it acquired an additional 703 BTC following the initial purchase of 5,771 Bitcoins last week at an average of $95,395 per coin. The year-to-date, per-share yield of MARA’s BTC is 36.7%. Marathon Holdings currently holds roughly 34,794 BTC in its treasury, valued at a whopping $3.3 billion. With our 0% $1 billion convertible notes offering, we are excited to share an update: – Acquired an additional 703 BTC, bringing the total to 6,474 BTC, at an average price of $95,395 per BTC– YTD BTC Yield Per Share 36.7%– Total owned BTC: ~34,794 BTC, currently valued at… pic.twitter.com/bzbunlyBRN — MARA (@MARAHoldings) November 27, 2024 The latest BTC purchase follows the Fort Lauderdale, Florida-based mining company’s move last week when it successfully closed its $1 billion offering of 0% convertible senior notes due 2030. The company plans to allocate roughly $160 million remaining from the existing debt raise to acquire more Bitcoin at low costs during price corrections. Increasing Corporate Bitcoin Adoption Marathon’s latest offering comes as several firms globally begin acquiring and holding Bitcoin on their balance sheet following a market rally that has catapulted the price of the world’s oldest crypto to more than $94,000. Advertisement   The most prominent include MicroStrategy, holding $36 billion in Bitcoin, and Japan’s Metaplanet, which has snapped up over 1,018 BTC this year, worth roughly $109 million to date. Marathon’s BTC stash represents 0.16%…
Filed under: News - @ November 28, 2024 8:26 pm