One of the largest publicly traded Bitcoin mining companies, Marathon Digital Holdings, has acquired 15,574 BTC at an approximate cost of $1.53 billion, translating to an average purchase price of $98,529 per Bitcoin.
The latest acquisition is part of MARA’s strategic use of funds raised from its recent zero-coupon convertible notes offerings.
For the acquisition, the company raised capital of $1.925 billion through 0% convertible notes in November and December. Also, around $263 million in aggregate principal amount of its existing convertible notes is due in 2026.
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
Marathon Digital Generates Impressive Yield
MARA’s operational efficiency and strategic mining practices have resulted in a BTC yield of 22.5% quarter-to-date (QTD) and 60.9% year-to-date (YTD). As of December 18, 2024, the Bitcoin mining company holds a total of 44,394 BTC, valued at approximately $4.45 billion based on a spot BTC price of $100,151.
A few days ago, another Bitcoin mining firm, Riot Platforms revealed the acquisition of a substantial amount of BTC, worth approximately $510 million.
After Trump’s remarkable victory in the presidential election of 2024, Bitcoin has witnessed a rally with intense bullish momentum, helping it to hit new all-time highs of $108,000. This shows boosted confidence in institutional and retail investors as Trump vowed to create a crypto-friendly environment to make America a crypto hub.
