Bitcoin Miner MARA Buys Another 703 BTC, Increases Total Holdings To 34,794 BTC
Bitcoin mining firm MARA formerly known as Marathon Digital has announced the acquisition of an additional 703 BTC. This purchase increases the companys total cryptocurrency holdings to 34,794 BTC.
MARAs Bitcoin Holdings Surge To 34,794 As CEO Shares Bullish Outlook
In an announcement made yesterday on X, MARA, one of the worlds leading Bitcoin mining companies, revealed it had acquired 703 BTC at an average price of $95,395. This brings the firms total Bitcoin purchases for November to 6,474 BTC, following last weeks acquisition of 5,771 BTC.
The latest purchase has increased the firms total digital asset holdings to 34,794 BTC, valued at approximately $3.3 billion at current market prices. Additionally, the firm disclosed that its year-to-date (YTD) BTC yield per share stands at 36.7%.
Earlier this month, MARA raised $1 billion by issuing 0% convertible senior notes due in 2030. A portion of the $200 million funds was used to buy back some of its 2026 notes. The firm has also reserved $160 million from the proceeds, intending to deploy it for future Bitcoin purchases if market prices become favorable.
As reported yesterday, MARA CEO Fred Thiel in an interview with CNBC remarked that more institutional investors are interested in BTC, hoping that a Donald Trump administration will bring about favorable cryptocurrency regulations in the US.
MARA stock closed at $26.92 on November 27, recording an increase of 7.81% for the day. In the last six months, the share price has increased by 26.92%, coinciding with rising optimism toward digital assets as market sentiment improves with changes in government administration.
Corporate Moves Could Push Bitcoin Beyond $100,000
MARAs aggressive Bitcoin acquisition strategy mirrors that of MicroStrategy, which has the largest Bitcoin holdings globally. Under Michael Saylors leadership, MicroStrategy has spent billions on Bitcoin purchases this month, totaling $4.6 billion and $5.4 billion in back-to-back weeks.
As President-elect Trumps January 20th inauguration date approaches, many corporations worldwide are warming up to adding BTC to their balance sheets. Most recently, Canada-based online video-sharing platform Rumble earmarked $20 million for future BTC purchases. Similarly, Japanese early-stage investment firm Metaplanets total BTC holdings recently crossed 1,000 BTC.
The race for amassing as much BTC as possible has sparked some enthusiasm among crypto analysts who foresee the digital asset breaching the $100,000 milestone early next year. BTC trades at $95,615 at press time, up 1% in the past 24 hours.
Source: NewsBTC.com
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