Bitcoin mining firms MARA and Hut 8 have recently announced significant Bitcoin acquisitions, reflecting a growing trend among companies to accumulate the primary cryptocurrency in their reserves. MARA, previously known as Marathon Digital, revealed an expansion of their Bitcoin purchase to a total of 15,574 BTC, valued at approximately $1.53 billion. This follows their initial purchase of 11,774 BTC for $1.1 billion. Additionally, Hut 8 disclosed the addition of 990 Bitcoin, totaling 10,096 BTC worth over $1 billion. MARA funded these purchases through $1.925 billion raised from convertible notes offerings. Both companies have substantially increased their Bitcoin holdings over the past year, with MARA tripling its reserves. Despite market fluctuations, the firms remain optimistic about the strategic value of holding Bitcoin reserves for future growth initiatives in the digital and power sectors. Read more AI-generated news on: https://app.chaingpt.org/news
Bitcoin Mining Companies Increase BTC Reserves Through Major Purchases
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BTC
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