Michaela
U.S.-based Bitcoin mining company Marathon Digital Holdings (MARA) has secured an extra 703 Bitcoin, bringing its total BTC purchased in November to 6,474 BTC at an average price of $95,395 per BTC.
In a statement on X, MARA announced that it has also set aside $160 million in remaining proceeds to purchase more Bitcoin at a lower cost in the future.
The strategic acquisition came after the company raised $1 billion through a zero-interest convertible senior note sale. MARA disclosed that a portion of the $980 million in net proceeds was allocated to repurchasing a portion of its 2026 notes.
Related: Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump
The Bitcoin miner has now positioned itself as one of the largest corporate Bitcoin holders. The company owns approximately 34,794 BTC, worth an estimated $3.3 billion at current market prices. The purchase has strengthened its standing as the second-largest Bitcoin holder among public companies.
MARA currently holds 0.16% of Bitcoin’s total supply, while MicroStrategy remains the largest corporate holder with 1.8% of the cryptocurrency’s circulating supply.
Companies Increase Their Bitcoin Holdings
Public companies have steadily been increasing their Bitcoin holdings, with MicroStrategy leading the charge through its aggressive buying strategy. In November alone, the company acquired over 130,000 BTC.
Related: The History of Altcoins: How Bitcoin’s Rivals Changed the Crypto Game
Additionally, more companies are embracing Bitcoin as part of their financial strategy. Rumble, a video-sharing platform, has allocated up to $20 million of its excess cash reserves to Bitcoin purchases as part of their diversification strategy. The company’s move followed a statement from Rumble’s CEO Chris Pavlovski who expressed the intention to add Bitcoin to the company’s balance sheet.
Early this month, AI firm Genius Group announced it increased its Bitcoin treasury by purchasing an additional $4 million worth of Bitcoin, bringing its total holdings to 153 Bitcoin valued at $14 million.
Read More
- MicroStrategy High-Stakes Bitcoin Bet: The “Infinite Money Glitch” Could Fail-Study
- Marathon Digital Acquires $250M in Bitcoin Following $300M Note Sale
- Marathon Digital Sued Over Excessive Noise from Crypto Mining Facility
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
