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Marathon Digital Holdings reports an 11% increase in hash rate and 2% decrease in blocks won for August 2024, highlighting operational improvements and future goals. (Read More)
Business intelligence firm MicroStrategy, led by Bitcoin (BTC) bull Michael Saylor, announced on Friday a successful $1.01 billion raise through the sale of convertible senior notes, a strategic move aimed at acquiring more BTC and redeeming higher-yielding securities. MicroStrategy Invests Additional $458 Million In BTC Of the funds raised, MicroStrategy allocated $458 million to purchase additional Bitcoin between September 13 and September 19, further bolstering its position as the cryptocurrency’s largest publicly traded corporate holder. As of September 19, the company reported holding approximately 252,220 Bitcoin, valued at around $15.8 billion. Related Reading: Analyst Predicts A Solana Price Crash To $80 If This Happens The convertible notes issued by MicroStrategy carry an interest rate of 0.625% and will mature in 2028. This marks the fourth time this year that the company has turned to the convertible note market to finance its Bitcoin acquisitions. In conjunction with the new issuance, MicroStrategy is redeeming $500 million of higher-interest 6.125% notes due in 2028, reflecting a strategic shift to lower borrowing costs while expanding its crypto portfolio. Co-founder and Chairman Michael Saylor has played a pivotal role in shaping MicroStrategy’s identity as a cryptocurrency investment vehicle since the company first ventured into Bitcoin in 2020. Under his leadership, the firm has transformed from a traditional enterprise software maker into a de facto crypto hedge fund, demonstrating a bold commitment to digital assets amid market fluctuations. MicroStrategy’s stock has also seen significant gains this year, more than doubling in value and outperforming Bitcoin’s approximately 50% increase over the same period. The latest acquisition follows MicroStrategys earlier purchase of 18,300 Bitcoin, valued at roughly $1.11 billion last week. Bitcoin Price Analysis Following what has been deemed a bullish catalyst, the broader cryptocurrency market has responded positively to the US Federal Reserve’s announcement on Wednesday of a 0.50% basis point rate cut. This decision contributed to the recovery over the past week after Bitcoin’s price retraced to as low as $52,640 on September 6. Bitcoin has managed to reclaim the $63,000 mark, aiming to consolidate above this critical level for the last 24 hours. Market analyst Ali Martinez points out that this price point coincides with Bitcoins 200-day simple moving average (SMA) on its BTC/USDT daily chart, which Martinez identifies as a pivotal threshold for the anticipated bull run in the latter part of the year. Historically, failures to maintain this support level have led to significant corrections, as observed in 2020, 2018, and 2014. Martinez warns that a rejection at this level could signal trouble for Bitcoins future price trajectory. Related Reading: XRP Price Surge Could Hit 9,470% Analyst Predicts $27 Target In Bold Forecast To mitigate the risk of a sharp decline, key support floors have been spotted at $61,700 in the short term, with the $60,000 mark serving as an essential threshold to prevent further price drops. In addition, introducing new liquidity into the market could significantly boost the Bitcoin price, as the Fed’s decision may boost investor confidence in riskier assets such as BTC. A successful break and consolidation above $63,000 could set the stage for a potential challenge of the next resistance level at $64,000 in the coming days. Featured image from DALL-E, chart from TradingView.com
The SFC has secured a groundbreaking settlement to compensate public shareholders of Combest Holdings Limited, marking a significant regulatory milestone. (Read More)
Bhutan's $750M Bitcoin holdings from mining operations by Druk Holdings are now labeled on Arkham, making it the 4th largest government with BTC holdings. (Read More)
MicroStrategys $1.11 billion Bitcoin purchase was funded by selling over 8 million company shares through a sales agreement.
Buterins recent transfer of 1,100 ETH to exchanges coincides with the Ethereum Foundations Ether sales worth over $200 million.
A survey showed that 26% of institutional investors and wealth managers support Bitcoins use case as a reserve asset.
Marathon Digital purchased $249 million of Bitcoin, expanding its corporate treasury to over 25,000 BTC. The Nasdaq-listed mining firm continues aggressively accumulating Bitcoin.
The Turkish Yilport Holdings made the largest-ever private investment in El Salvador and will develop the port at the proposed site of Bitcoin City.
Marathon Digital Holdings (MARA) announces a proposed $250 million private offering of convertible senior notes to acquire bitcoin and for corporate purposes. (Read More)
Marathon Digital Holdings has taken a patriotic step by labeling all Bitcoin mined in the U.S. with a "Made in USA" stamp.
Marathon Digital Holdings announced a $250 million private offering of convertible notes to expand its bitcoin holdings. The Bitcoin mining firm aims to mimic MicroStrategy's corporate bitcoin accumulation strategy.
The German government moved 3,100 BTC worth $178 million in one hour, with more sell-offs likely imminent.
Marathon Digital (MARA), one of the largest Bitcoin (BTC) mining companies, has recently announced a substantial acquisition of $100 million worth of Bitcoin. This significant purchase, detailed in a recent company statement, has increased Marathon’s Bitcoin holdings to over $1 billion at current prices, showing the company’s confidence in the future price appreciation of the [...]
The post Bitcoin Mining Giant Marathon Digital Makes Major $100M BTC Acquisition appeared first on Crypto Breaking News.
The acquisition could be another step toward the first spot crypto ETF launching in Japanese markets.
MARA is now focusing on growing the amount of BTC on its balance sheet.
Bitwise launches its spot Ether ETF and pledges 10% of the profits to Ethereum developers via Protocol Guild and PBS Foundation.
Real Bedford FC expands its Bitcoin holdings with a strategic purchase of 66.9 BTC at an average price of approximately $67,220 per coin, reinforcing its commitment to crypto.
Repeated Bitcoin transfers to centralized exchanges suggest the government plans to sell its $2.75 billion in BTC holdings.
Marathon Digital Holdings (MARA) will host a webcast and conference call on August 1, 2024, to discuss its Q2 financial results. Shareholders can submit questions in advance. (Read More)
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