Bitcoin Miner MARA Holdings Embraces MicroStrategy Playbook, Acquires $1.53 Billion Worth BTC

Bitcoin (CRYPTO: BTC) mining company MARA Holdings Inc. (NASDAQ:MARA) announced the acquisition of 15,574 BTC for $1.53 billion, funded by $1.925 billion raised through zero-coupon convertible notes issued in November and December.

What Happened: In a post on social media platform X, MARA revealed its total Bitcoin holdings now stand at 44,394 BTC, valued at approximately $4.3 billion based on Bitcoin’s current price of $97,377.

The Florida-based firm acquired the cryptocurrency at an average price of $98,529 per Bitcoin.

See Also: Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy’s Michael Saylor: ‘BTC Doesn’t Generate Any Income’

Additionally, MARA repurchased $263 million of its existing convertible notes due in 2026 and plans to use the remaining funds to buy more Bitcoin.

The company also highlighted its Bitcoin yield …

Full story available on Benzinga.com