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Bitcoin mining company MARA, previously known as Marathon Digital, announced the acquisition of an additional 703 BTC. This purchase brings the company’s total cryptocurrency holdings to 34,794 BTC.
MARA’s Bitcoin holdings surge to 34,794 as CEO shares optimistic outlook
to presentation Made yesterday by X, the world’s best MARA. major The Bitcoin mining company said it obtained 703 BTC at an average price of $95,395. This brings the company’s total Bitcoin purchases in November to 6,474 BTC, following last week’s acquisition of 5,771 BTC.
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This purchase brings the company’s total digital asset holdings to 34,794 BTC, which is worth about $3.3 billion at current market prices. The company also disclosed a year-to-date (YTD) BTC return per share of 36.7%.
Earlier this month, MARA raised $1 billion by issuing 0% convertible senior notes due 2030. Some of the $200 million funds were used to buy back some of the 2026 bonds. The company also plans to set aside $160 million from the proceeds to use for future Bitcoin purchases if market prices improve.
like reported Yesterday, MARA CEO Fred Thiel told CNBC that more institutional investors are interested in BTC as he hopes the Donald Trump administration will bring about favorable cryptocurrency regulation in the United States.
MARA stock closed at $26.92 on November 27, up 7.81% on the day. The stock has risen 26.92% over the past six months, consistent with rising optimism about digital assets as market sentiment improves following changes in government administration.
Corporate moves could push Bitcoin above $100,000
MARA’s aggressive Bitcoin acquisition strategy mirrors that of MicroStrategy, which holds the largest Bitcoin holdings in the world. Under Michael Saylor’s leadership, MicroStrategy has spent billions of dollars buying Bitcoin this month. $4.6 billion and $5.4 billion Several weeks in a row.
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As President-elect Trump’s January 20th inauguration day approaches, many companies around the world are warm Even adding BTC to the balance sheet. Most recently, Rumble, a Canadian-based online video sharing platform, assigned $20 million for future BTC purchases. Likewise, the total BTC holdings of Japanese early-stage investment firm Metaplanet recently exceeded 1,000 BTC.
The race to accumulate as much BTC as possible has sparked some enthusiasm among cryptocurrency analysts predicting the digital asset. violation Achieved $100,000 early next year. BTC is trading at $95,615 at press time, up 1% in the last 24 hours.
Featured image from Unsplash, Chart Finance from Yahoo! and Tradingview.com