MARA Holdings acquires 15,574 BTC for $1.53 billion and plans further Bitcoin purchases, boosting its position in crypto market.
MARA Holdings has made significant moves to expand its Bitcoin holdings, acquiring 15,574 BTC for approximately $1.53 billion. At that time, Bitcoin was priced at around $98,529 per BTC. The news was shared through the company’s MARA X account. Aside from this acquisition, MARA also repurchased about $263 million of its existing convertible notes due 2026. According to the company, the remaining proceeds from this acquisition will be used to purchase more Bitcoin in keeping with the company’s goal to increase its digital asset portfolio.
Proceeds from zero-coupon convertible notes financed MARA’s recent acquisition. In November and December, the company raised $1.925 billion by selling 0% convertible notes. These notes relate to a broader strategy to advance MARA’s Bitcoin holdings. Also, MARA bought back its convertible notes, confirming its desire to lower debt and boost its Bitcoin position.
On December 18, 2024, MARA owns 44,394 BTC. For a current Bitcoin price of $100,151, its holdings are worth about $4.45 billion. It has strong Bitcoin yields, with 22.5% QTD and 60.9% YTD. The impressive results demonstrate MARA’s successful strategy to increase its digital asset portfolio.
MARA Bitcoin Acquisitions Boost its Standing in Crypto Market
This acquisition is evidence of MARA’s long-term commitment to the cryptocurrency space and choosing to repurchase convertible notes and invest in Bitcoin. The company wants to continue building up Bitcoin reserves and to make the most out of the value of emerging digital assets. The approach is consistent with the greater institutional investor participation in Bitcoin exposure.
Aside from its recent acquisitions, MARA plans to issue $700 million in zero-coupon convertible senior notes due in 2031. It will also help raise the capital necessary to buy more Bitcoin. As part of the offering, the company will also provide options for $105 million. Some of the money will be spent on Bitcoins.
MicroStrategy founder Michael Saylor, one of Bitcoin’s biggest backers, has said that MARA could soon be included in the Nasdaq 100 Index. If this were to happen, it would further cement MARA as a critical player in the Bitcoin mining, and digital assets industries. The company’s continued buy-up of Bitcoin is making it more powerful in the global cryptocurrency market.
