Marathon Digital Holdings (MARA), a Bitcoin mining corporation, has made significant expenditures to grow its holdings.
According to the post on X, MARA purchased 11,774 bitcoins for nearly $1.1 billion, averaging $96,000 per bitcoin. The corporation funded its transaction by issuing zero-coupon convertible notes, a sort of debt that can be converted into company shares.
As of December 9, 2024, MARA held 40,435 bitcoins as of December 9, 2024, worth approximately $3.9 billion depending on the current Bitcoin price of $96,500. The company recorded a Bitcoin yield of 12.3% for the current quarter and 47.6% year to date, demonstrating significant profits on its Bitcoin assets.
In addition to purchasing Bitcoin, MARA is expanding its mining operations. The company has acquired multiple Bitcoin mining sites, including a 200-megawatt data center adjacent to a wind farm in Texas, aiming to enhance its mining capacity and support sustainable energy initiatives.Â
Also Read: MARA Raises $850M in Convertible Notes to Buy More Bitcoin
