MARA Holdings purchased 5,771 Bitcoin at an average price of US$95,554 per BTC, bringing its total holdings to 33,875 BTC.
The acquisition was funded through a 0% convertible note offering that raised US$1 billion, netting US$980 million after fees.
The digital asset miner achieved a 35% Bitcoin yield per share through this strategy, positioning itself among the world’s largest Bitcoin-holding miners.
With our 0% convertible note offering:
– We acquired 5,771 BTC so far, at an average price of $95,554 per BTC.
– 35% BTC Yield Per Share
– Total owned BTC: ~33,875 BTC, currently valued at $3.4B based on a spot BTC price of $99k. pic.twitter.com/1agzZmLvZP— MARA (@MARAHoldings) November 22, 2024
The zero-interest convertible notes allow MARA to expand its reserves without immediate interest payment obligations.
This approach mirrors MicroStrategy’s corporate reserve asset strategy, as both companies leverage corporate debt for Bitcoin acquisition. MARA plans to allocate additional funds toward mining operations expansion, debt repayment, and strategic acquisitions.
The purchase comes amid Bitcoin’s continued rally toward US$100,000. The total Bitcoin market capitalization now exceeds US$1.9 trillion.