In a bid to shore up its holdings, MARA Holdings has invested another $1.53 billion to buy more than 15,000 worth of Bitcoin
Popular Bitcoin (BTC) mining company MARA Holdings Inc. recently acquired 15,574 BTC at an average price of $98,529.
The firm raised $1.925 billion between November and December from 0% convertible notes. The funds for the latest purchase were from the realized capital. Considering the coin’s price, MARA’s 15,574 BTC purchase cost approximately $1.53 billion.
Bitcoin price was trading at $98,760.49 after losing 4.95% of its gain in the last 24 hours.
MARA Holdings’ BTC Stash Almost at 50K
As a result of the recent acquisition, MARA Holdings’ filing to the United States Securities and Exchange Commission (SEC) shows that it now has a total Bitcoin holding of 44,394 BTC.
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
This makes the miner the publicly traded company with the largest reserves of Bitcoin. Its entire stash is worth approximately $4.5 billion at the current market price of the flagship cryptocurrency.
In the meantime, MARA has recorded a Bitcoin yield of up to 12.3% QTD and 47.6% YTD. In addition to this milestone, MARA announced that it has repurchased about $263 million in aggregate principal amount of its existing convertible notes due 2026.
The firm plans to engage the remaining funds to acquire more BTC.
Copying MicroStrategy’s Bitcoin Playbook
Noteworthy, MARA’s frequent Bitcoin acquisition mirrors MicroStrategy’s playbook. The latter is largely recognized for its consistent Bitcoin acquisition and accumulation strategy, which was developed four years ago. From buying a few million worth of Bitcoin, the business intelligence software company became the largest corporate holder of BTC.
MicroStrategy acquired 15,350 Bitcoin units last week at an average price of approximately $100,386 per coin. It was reported that the firm spent $17.5 billion on bitcoin purchases within the last two months.
As of its last buy, the Michael Saylor-led firm holds 439,000 BTC. MARA’s stash is still a far cry compared to the holding, but it may take no time to attain this level if it remains consistent.
A few days ago, MicroStrategy mentioned joining the Nasdaq 100 Index, a prestigious list of the most influential tech companies globally. Palantir Technologies Inc., Axon Enterprise Inc., and MicroStrategy are replacing Illumina Inc., Super Micro Computer Inc., and Moderna Inc. on the index.
Shortly after, Saylor stated that he sees MARA Holdings entering the Nasdaq 100 Index soon.
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