Key Takeaways
- Marathon Digital adds 5,771 BTC for $572M, boosting its reserves to 33,875 BTC.
- The purchase was funded by a $1B convertible notes offering at 0% interest.
- Marathon is now the second-largest corporate Bitcoin holder globally.
Marathon Digital Holdings (MARA), one of the world’s largest Bitcoin mining companies, has significantly expanded its Bitcoin reserves with a $572 million acquisition of 5,771 BTC.
This purchase brings the company’s total holdings to approximately 33,875 BTC, worth an estimated $3.3 billion at current market prices.
Purchase details
The Bitcoin was acquired at an average price of $95,554 per BTC, funded through Marathon’s recent $1 billion convertible notes offering.
The 0% interest rate on this financing allowed the company to strengthen its Bitcoin position without immediate repayment pressure.
Strategy
Marathon’s strategy mirrors that of MicroStrategy, leveraging corporate debt to accumulate Bitcoin as a reserve asset.
This move underscores its confidence in Bitcoin’s long-term potential, even amid market volatility.
Marathon has also reported a 35% yield per share from its strategic investments, reinforcing the financial viability of its Bitcoin-focused approach.
Second largest holder
Currently the second-largest corporate Bitcoin holder behind MicroStrategy, Marathon plans to use the remaining funds from its offering to expand mining operations and pursue acquisitions.
Its proactive strategy has drawn praise from the Bitcoin community as an example of growing institutional confidence in Bitcoin.
