MARA Holdings Boosts Bitcoin Reserves to $3.4 Billion with Latest Acquisition

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Cryptodnes2024/11/23 09:22

By:Cryptodnes

MARA Holdings, a prominent Bitcoin mining firm, has significantly expanded its cryptocurrency reserves with the purchase of 5,771 BTC, amounting to $572 million.

The acquisition was made at an average price of $95,554 per Bitcoin , highlighting the company’s strategic focus on strengthening its Bitcoin holdings amid the cryptocurrency’s continued rally toward $100,000.

Using funds raised through a 0% convertible note offering, MARA secured $1 billion, with $980 million available after fees. A substantial portion was allocated to this latest Bitcoin purchase.

The company now holds approximately 33,875 BTC, valued at $3.4 billion at current prices, positioning it as one of the largest Bitcoin-holding miners globally.

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MARA’s strategy includes leveraging zero-coupon convertible notes, which eliminate immediate interest payments, enabling the firm to prioritize Bitcoin accumulation and expand its mining operations.

The company has also reported a 35% Bitcoin yield per share, reflecting the financial success of its aggressive acquisition approach.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Cryptopolitan•2024/11/27 03:33