Mara’s Bitcoin top-up readjusts total to $3.3b

US Bitcoin miner Marathon Digital Holdings spent nearly $67 million on its latest Bitcoin purchase, following the sale of $1 billion in convertible notes at a 0% interest rate.

According to MARA Holdings’ post on At the time of writing this article on November 27, BTC was trading at $96,400.

24-hour BTC price chart – November 24 | Source: crypto.news

Marathon Digital announced that it has repurchased $200 million worth of banknotes and retained $160 million in capital for additional Bitcoin purchases. The company signaled that it would implement a “buy the dip” strategy. Mara also increased his year-to-date BTC return to 36.7% using a metric that measures the growth of BTC holdings relative to stake dilution.

Using BTC yield as a performance indicator has gained traction among institutional Bitcoin holders, especially after convertible note offerings. MicroStrategy has led this trend through four years of Bitcoin acquisitions, funded in part by sales of stocks and bonds.

We’re excited to share an update on our 0% $1 billion convertible note offering:

– Purchased an additional 703 BTC at an average price of $95,395 per BTC, bringing the total to 6,474 BTC
– YTD BTC Return Per Share 36.7%
– Total BTC held: ~34,794 BTC, currently worth… pic.twitter.com/bzbunlyBRN

— MARA (@MARAHoldings) November 27, 2024

Other companies have also adopted the process by disclosing individual BTC reserves and Treasury bonds. Companies in the medical sector such as Semler Scientific, artificial intelligence developer Genius Group and Tokyo giant Metaplanet.

Countries and governments have also competed to create national strategic BTC stocks. US Senator Cynthia Lummis has proposed purchasing 4% of the total supply of 21 million tokens. Brazil’s House of Representatives inverted BTC to reduce financial risks.

States have also flocked to the idea, potentially planning to lead federal governments from the front. Pennsylvania has tabled the BTC reserve framework as it passes Bitcoin Rights legislation following President Donald Trump’s imminent return to the White House.

In Canada, Vancouver Mayor Ken Sim has introduced a motion to protect the city’s purchasing power through BTC-friendly policies, including creating a Bitcoin reserve.