The largest public mining company MARA Holdings acquired 6474 $BTC for ~$618 million after placing convertible bonds worth $1 billion.
The average purchase price was $95,395 per coin.
The size of the company's bitcoin reserves reached 34,794 BTC worth about $3.3 billion. Since the beginning of the year, digital gold has provided a return on equity of 36.7%.
Of the raised amount, $200 million MARA directed towards repurchasing bonds maturing in 2026.
The remaining ~$160 million after transaction costs is available for future BTC purchases on dips," the company stated.
On November 18, MARA announced a private placement of convertible bonds with a 0% coupon and a 42.5% premium to the weighted average share price for $700 million. Due to oversubscription and an additional option for initial buyers, the amount increased to $1 billion.
