As a seasoned researcher with years of experience tracking the cryptocurrency market, I find myself constantly amazed by the rapid growth and strategic moves made by players like MARA. The recent acquisition of 11,774 BTC for $1.1 billion is no exception. This purchase not only cements MARA’s position as a significant player in the Bitcoin market but also underscores their confidence in the long-term potential of this digital asset.
As an analyst, I’m reporting that Bitcoin mining firm MARA has recently acquired 11,774 Bitcoins for approximately $1.1 billion, boosting its total Bitcoin holdings to a substantial 40,435 coins. This makes MARA the second-largest public company in terms of Bitcoin ownership, following closely behind MicroStrategy, which announced another Bitcoin purchase just yesterday and holds the largest BTC stockpile.
MARA Acquires 11,774 BTC For $1.1 Billion
MARA revealed in a recent filing with the SEC that it had purchased 11,774 BTC for $1.1 billion. Meanwhile, the Bitcoin miner also confirmed this purchase in an X post, stating that it used the proceeds from its zero-coupon convertible notes offerings to make this purchase.
The company bought Bitcoins with an average cost of about $96,000 per BTC. So far, it has earned a return of 12.3% in the current quarter and a whopping 47.6% since the start of the year. With this latest purchase, they now own approximately 40,435 Bitcoins, which is roughly equivalent to $3.9 billion, given the current Bitcoin value.
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2024-12-10 16:41