Marathon Digital Holdings (MARA), a prominent Bitcoin mining entity, has been actively engaged in augmenting its holdings. As per a post on X, MARA made a substantial acquisition of 11,774 bitcoins at a cost nearing $1.1 billion, with an average price of $96,000 per bitcoin. The firm financed this deal by issuing zero-coupon convertible notes, a form of debt that can be transformed into company shares.
On December 9, 2024, MARA boasted a total of 40,435 bitcoins in its possession. Valued at around $3.9 billion considering the current Bitcoin price of $96,500, the company registered a Bitcoin yield of 12.3% for the present quarter and an impressive 47.6% year to date, highlighting substantial earnings from its Bitcoin assets.
Not only is MARA focused on Bitcoin purchases but also on expanding its mining operations. It has procured several Bitcoin mining locations, such as a 200-megawatt data center close to a wind farm in Texas. This move is aimed at bolstering its mining capabilities and promoting sustainable energy undertakings.
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