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Bitcoin mining company MARA, formerly known as Marathon Digital, has announced the acquisition of an additional 703 BTC. This purchase increases the company’s total cryptocurrency holdings to 34,794 BTC.
MARA Bitcoin Holdings Rise to 34,794 as CEO Shares Bullish Outlook
in a advertisement held yesterday in X, MARA, one of the most important in the world major Bitcoin mining companies revealed that they had acquired 703 BTC at an average price of $95,395. This brings the company’s total Bitcoin purchases in November to 6,474 BTC, following the acquisition of 5,771 BTC last week.
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The latest purchase has increased the company’s total digital asset holdings to 34,794 BTC, valued at approximately $3.3 billion at current market prices. Additionally, the company revealed that its year-to-date (YTD) BTC return per share is 36.7%.
Earlier this month, MARA raised $1 billion by issuing 0% convertible senior notes due 2030. A portion of the $200 million proceeds was used to repurchase some of its 2026 notes. The company It has also set aside $160 million of the profits, intending to use it for future Bitcoin purchases if market prices turn favorable.
As reported Yesterday, MARA CEO Fred Thiel, in an interview with CNBC, commented that more institutional investors are interested in BTC, hoping that a Donald Trump administration will bring about favorable regulations for cryptocurrencies in the US. .
MARA shares closed at $26.92 on November 27, registering a 7.81% increase on the day. Over the past six months, the share price has risen 26.92%, coinciding with growing optimism towards digital assets as market sentiment improves with changes in government administration.
Corporate Moves Could Take Bitcoin Past $100,000
MARA’s aggressive Bitcoin acquisition strategy mirrors that of MicroStrategy, which has the largest Bitcoin holdings globally. Under the leadership of Michael Saylor, MicroStrategy has spent billions on Bitcoin purchases this month, totaling 4.6 billion dollars and 5.4 billion dollars in consecutive weeks.
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As President-elect Trump’s January 20 inauguration date approaches, many corporations around the world are heating until adding BTC to their balances. More recently, Canadian online video-sharing platform Rumble intended $20 million for future BTC purchases. Similarly, Japanese early-stage investment firm Metaplanet’s total BTC holdings recently surpassed 1,000 BTC.
The race to accumulate as much BTC as possible has sparked some excitement among crypto analysts forecasting the digital asset. violating the $100,000 milestone early next year. BTC is trading at $95,615 at the time of this publication, up 1% in the last 24 hours.
Featured image from Unsplash, graphics from Yahoo! Finance and Tradingview.com
