MARA Acquires $1.1 Billion in Bitcoin

The mining company MARA Holdings has purchased 11,774 BTC for approximately $1.1 billion, at an average price of around $96,000 per coin.

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

According to a report filed with the U.S. Securities and Exchange Commission, the firm manages 40,435 BTC valued at approximately $3.9 billion. The yield since the beginning of the year is 47.6%, and 12.3% since the start of the quarter.

The coins were purchased using funds raised from the sale of zero-coupon convertible bonds.

At the time of writing, Bitcoin is trading at $97,500, marking an increase of over 27% in the past month.

Back in November 27, MARA Holdings acquired 6,474 BTC for approximately $618 million following the issuance of $1 billion in convertible bonds.