Summary
- Marathon Digital acquired 4,144 BTC worth about $249 million.
- Their total reserves are now over 25,000 BTC.
According to the latest reports, Marathon Digital bought 4,144 Bitcoin worth about $249 million. In a post on X, the Bitcoin miner also highlighted the securing of $300 million through an oversubscribed offering of convertible senior notes.
MARA also revealed that the strategic reserves of Bitcoin are now over 25,000 BTC.
According to their notes, MARA bought BTC at an average price of $59,500. The Bitcoin miner saw net proceeds of around $292.5 million for its convertible senior notes due September 2031, which bear a 2.125% annual interest rate and are convertible into cash Marathon stocks or both options.
MARA also said that the remaining cash from the note sales would be used to buy more BTC and for general corporate purposes.
New reports reveal that a MARA spokesperson recently said that the Bitcoin miner company believes that Bitcoin is the premier strategic treasury asset and they are adopting a multifaceted strategy for acquiring Bitcoin.
Recently, the company said that every block mined by them is stamped “Made in USA.”
MARA is the only large-scale miner that is ensuring all their BTC is 100% American-made.
Securing Block Space and Bitcoin
In a post via X, MARA noted that as Bitcoin’s importance grows, owning block space becomes a matter of national security especially as sovereigns begin to ramp up their efforts to gain influence in the Bitcoin ecosystem.
They noted that it’s economically infeasible for any single entity to dominate the Bitcoin network, but owning a substantial part of the global hash rate offers strategic advantages, including timely transaction processing.
MARA reportedly strives to maintain or increase their share in block space as the global hash rate continues to surge, by investing in their mining operations.
They also noted that the commitment to owning Bitcoin is important to ensure that MARA remains a key player in the ecosystem.