Bitcoin Miner MARA Holdings Embraces MicroStrategy Playbook, Acquires $1.53 Billion Worth BTC
Posted On December 21, 2024
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.
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 …