- MARA acquired 11,774 BTC for $1.1B, boosting holdings to 40,435 BTC worth $3.9B at current prices.
- Marathon Digital achieves 50 EH/s hashrate, marking a new milestone in public Bitcoin mining performance.
- Institutional Bitcoin adoption grows as MARA and MicroStrategy dominate with significant acquisitions and reserves.
Marathon Digital Holdings has acquired 11,774 Bitcoin for $1.1 billion. This is according to a recent SEC filing. The purchase increases MARA’s total Bitcoin holdings to 40,435 BTC, valued at approximately $3.9 billion at current prices.
The company financed the acquisition using proceeds from its zero-coupon convertible note offerings. MARA confirmed the transaction in an X post, highlighting its strategy to retain mined Bitcoin and expand reserves.
Average Purchase Price and Yield Performance
MARA purchased the Bitcoin at an average price of $96,000 per BTC. The company reported a 12.3% Bitcoin yield quarter-to-date and 47.6% year-to-date. These metrics reflect its strong performance in increasing Bitcoin reserves through strategic acquisitions.
MicroStrategy’s co-founder, Michael Saylor, commented on MARA’s announcement. He noted the company’s impressive YTD Bitcoin yield of 47.6%, which aligns with his advocacy for Bitcoin adoption.
Comparisons with MicroStrategy’s Holdings
This announcement follows MicroStrategy’s acquisition of 21,550 BTC for $2.1 billion. With these additions, MicroStrategy now holds 423,650 BTC, far exceeding MARA’s 40,435 BTC. Both companies continue to lead among public firms in Bitcoin holdings.
In addition to expanding its Bitcoin holdings, MARA reached a hashrate milestone of 50 exahashes per second (EH/s). This achievement makes MARA the first public Bitcoin miner to cross this threshold. The company doubled its hashrate in 2024, meeting its year-end target.
MARA’s CEO, Fred Thiel, stated that the company plans to continue scaling its operations. He hinted at deploying additional miners using existing capacity to further bolster performance.
The growing institutional interest in Bitcoin remains notable. In addition, Microsoft shareholders are voting on a Bitcoin adoption proposal. If approved, it could position Microsoft among the rising number of firms embracing cryptocurrency.
This series of strategic purchases and operational achievements demonstrates the increasing role of Bitcoin in corporate strategies.
The post MARA Boosts Bitcoin Holdings to 40,435 BTC with $1.1 Billion Purchase appeared first on Crypto News Land.
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