Marathon Digital expands Bitcoin holdings with 11,774 BTC, funded by zero-interest convertible bonds.
Marathon diversifies into AI and computing to address mining challenges and improve long-term growth.
In an announcement, Marathon Digital Holdings (MARA) has bought 11,774 BTC for an average price of $96,000 per coin. Valued at around $1.1 billion, this purchase greatly increased the company’s holdings to an amazing 435 BTC as of December 9, 2024.
The action emphasizes Marathon’s proactive approach to maintaining its place in the erratic yet intriguing crypto market.
Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 11,774 BTC for ~$1.1 billion at ~$96,000 per #bitcoin and has achieved BTC Yield of 12.3% QTD and 47.6% YTD. As of 12/9/2024, we hold 40,435 BTC, currently valued at $3.9 billion based on a… pic.twitter.com/2uvnrhbxaP
— MARA (@MARAHoldings) December 10, 2024
Strategic Moves Amid Bitcoin Market Volatility
Marathon’s purchase
