Bitcoin miner MARA Holdings has topped up its Bitcoin holdings after pulling $1 billion in funding through convertible notes
MARA Holdings, a major player in the cryptocurrency industry, has increased its Bitcoin holdings after successfully raising $1 billion through a convertible note offering. The company announced on X that it had acquired an additional 703 Bitcoin, bringing its total to 6,474 BTC. The Bitcoin was purchased at an average price of $95,395 per BTC, adding significantly to its portfolio.
MARA Holdings and Long-term BTC Growth
With this latest purchase, MARA’s total holdings reached 34,794 BTC, worth about $3.3 billion. This purchase strengthens MARA’s role as a key institutional investor in the cryptocurrency market. It shows that MARA believes in Bitcoin’s potential as a safe investment and a way to protect against inflation.
The Bitcoin miners also announced they had about $160 million left from their sales after transaction costs. It plans to use this money to buy more Bitcoin when prices drop. The company has also bought back some of its $200 million convertible notes due in 2026. This shows that MARA is improving its financial situation, ensuring it is ready for changing market conditions.
Notably, the acquisition happened as Bitcoin’s price changed due to economic uncertainties and growing interest from big investors. With its strong financial resources, MARA is positioning itself to take advantage of Bitcoin’s expected long-term growth. MARA increasing its Bitcoin holdings is undoubtedly part of its plan to become a key player in the crypto market.
Institutional Bitcoin Adoption On a Rise
Interestingly, MARA, formerly called Marathon Digital, is one of many building Bitcoin-centric reserves. As reported by BGECrypto, Genius Group, a prominent Artificial Intelligence (AI) firm, revealed its intention to buy Bitcoin worth $120 billion. Inspired by MicroStrategy’s treasury strategy, Genius Group aims for Bitcoin to make up 90% of its reserves.
MicroStrategy now holds over $25 billion worth of Bitcoin and has revealed a $42 million plan to buy more. This approach has driven MicroStrategy’s stock to record highs. Firms like Metaplanet and Selmer Scientific are also joining the trend. Likewise, the United States government has recently hinted at getting involved.
At a Bitcoin conference in 2024, Donald Trump proposed a stockpile for the U.S. Treasury. This proposal aligns with Senator Lummis’ bill, which advocated holding a million Bitcoin as a national asset. Furthermore, the growing interest underscores a broader shift towards Bitcoin as corporate and national treasuries look to future-proof their resources.
