Bitcoin (BTC) mining company MARA announced that it has acquired 15,574 BTC for $1.53 billion, after raising $1.925 billion in a zero-coupon convertible bond offering in November and December.
In a post on social media platform
The Florida-based company's BTC holdings are currently worth $4.3 billion, based on the Bitcoin price of $97,377.
“MARA will acquire 15,574 BTC at approximately $98,529 per Bitcoin for approximately $1.53 billion, repurchase approximately $263 million aggregate principal amount of existing convertible notes due 2026, and add remaining proceeds. I plan to use it to acquire Bitcoin.
The company said it plans to purchase more Bitcoin to achieve a BTC yield of 22.5% quarter-to-date (QTD) and 60.9% year-to-date (YTD).
Other Bitcoin mining companies are also expanding their BTC vaults.
Hut 8 states that it purchased approximately 990 BTC for $100 million, increasing its Bitcoin reserves to a total of 10,096 BTC, worth approximately $983.1 million based on the asset's current value.
Hut 8 CEO Asher Genuto said:
“We believe deeply in our business operations and believe that building a strategic Bitcoin reserve will strengthen our financial foundation as we pursue large-scale growth initiatives across power and digital infrastructure. I believe.”
Riot Platforms recently purchased 5,117 BTC using its own bonds, increasing its Bitcoin holdings to 16,728 BTC, currently worth $1.63 billion.
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