{"id":19725,"date":"2024-12-19T18:04:24","date_gmt":"2024-12-19T16:04:24","guid":{"rendered":"https:\/\/forklog.com\/en\/mara-expands-bitcoin-reserves-to-4-45-billion-hut-8-reaches-1-billion\/"},"modified":"2024-12-19T18:04:24","modified_gmt":"2024-12-19T16:04:24","slug":"mara-expands-bitcoin-reserves-to-4-45-billion-hut-8-reaches-1-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mara-expands-bitcoin-reserves-to-4-45-billion-hut-8-reaches-1-billion\/","title":{"rendered":"MARA Expands Bitcoin Reserves to $4.45 Billion, Hut 8 Reaches $1 Billion"},"content":{"rendered":"<p>The mining company MARA Holdings has acquired an additional 15,574 BTC for a total of $1.53 billion at an average price of approximately $98,529 per coin.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">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 <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> and repurchased ~$263 million in aggregate principal amount\u2026 <a href=\"https:\/\/t.co\/ycGRk9BYfv\">pic.twitter.com\/ycGRk9BYfv<\/a><\/p>\n<p>\u2014 MARA (@MARAHoldings) <a href=\"https:\/\/twitter.com\/MARAHoldings\/status\/1869729480211664974?ref_src=twsrc%5Etfw\">December 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm utilized $1.925 billion raised through convertible bond offerings in November and December for these purchases.<\/p>\n<p>A portion of the proceeds, amounting to ~$263 million, was used by MARA to repurchase existing bonds maturing in 2026. The remaining funds are intended for further expansion of bitcoin reserves.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs of December 18, 2024, we hold 44,394 BTC, currently valued at $4.45 billion based on a spot price of $100,151,\u201d stated MARA.<\/p>\n<\/blockquote>\n<p>In early December, JPMorgan analysts noted that public miners are increasingly adopting MicroStrategy&#8217;s strategy of accumulating bitcoins on their balance sheets to enhance shareholder value. MARA was a pioneer in this regard, followed by Riot Platforms and Hut 8 Corp.<\/p>\n<p>On December 19, Hut 8 announced the acquisition of 990 BTC for approximately $100 million. The average purchase price was $101,710 per coin.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Hut 8 today announced the purchase of approximately 990 Bitcoin for approximately $100 million, or an average of approximately $101,710 per Bitcoin. Combined with the Bitcoin held prior to this purchase, Hut 8\u2019s strategic Bitcoin reserve now totals more than 10,000 Bitcoin with a\u2026 <a href=\"https:\/\/t.co\/BhgCNMMEJu\">pic.twitter.com\/BhgCNMMEJu<\/a><\/p>\n<p>\u2014 Hut 8 (@Hut8Corp) <a href=\"https:\/\/twitter.com\/Hut8Corp\/status\/1869737023424327837?ref_src=twsrc%5Etfw\">December 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hut 8&#8217;s holdings of the leading cryptocurrency increased to 10,096 BTC, valued at approximately $1 billion.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs a key component of our treasury policy, the bitcoin reserve supports a flywheel effect that aligns our capital and operational strategies for accelerated value creation across the business,\u201d stated the CEO of the Canadian company, Asher Genoot.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasures<\/a>, MARA confidently holds the second position among corporations in terms of digital reserves. The company is second only to MicroStrategy, which has accumulated 439,000 BTC.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"169\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-147-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-1024x169.jpg\" alt=\"Bitcoin-Treasuries-147-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome\" class=\"wp-image-248221\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-147-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-1024x169.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-147-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-300x50.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-147-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-768x127.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-147-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome.jpg 1408w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: BitcoinTreasuries.<\/figcaption><\/figure>\n<p>Following the purchase of 990 BTC, Hut 8 rose to a clear fourth place in the rankings. The firm immediately surpassed competitors such as CleanSpark, the cryptocurrency exchange Coinbase, and Elon Musk&#8217;s Tesla.<\/p>\n<p>President-elect Donald Trump has confirmed his intention to create a national bitcoin reserve.<\/p>\n<p>Former BitMEX CEO Arthur Hayes expressed skepticism about the initiative&#8217;s implementation. According to the expert, the new administration&#8217;s policy in January will disappoint investors, and cryptocurrencies face a \u201cpainful collapse.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining company MARA Holdings has acquired an additional 15,574 BTC for a total of $1.53 billion at an average price of approximately $98,529 per coin. 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,1137,1136,1185],"class_list":["post-19725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-cryptocurrency-mining","tag-hut-8","tag-marathon-digital-holdings"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19725"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19724"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}