Bitcoin Mining Company Marathon Adds $1.1 Billion in Bitcoin; Michael Saylor Optimistic About Landing on Nasdaq
On December 10, Bitcoin mining company MARA announced that it purchased 11,774 bitcoins at an average price of $96,000 per bitcoin, totaling $1.1 billion. After being included in the Nasdaq 100 Index, MicroStrategy co-founder Michael Saylor predicted that MARA has the potential to become the next company included in the Nasdaq 100. (Background: Nasdaq enters the cryptocurrency space! Launching Bitcoin and Ethereum custody services in Q2) (Background Information: Is buying Bitcoin less favorable than investing in MicroStrategy? Three reasons to tell you how MSTR reached the top of NASDAQ trading volume.) The Nasdaq announced after the close of trading on Friday that the well-known Bitcoin holder and public company MicroStrategy will officially be included in the Nasdaq 100 Index on December 23, leading analysts to predict that MicroStrategy will see billions of dollars in passive investments in the future. At the same time, MicroStrategy co-founder and executive chairman Michael Saylor posted on the X platform that he expects Bitcoin mining company MARA (Marathon Digital Holdings) to be the next company included in the Nasdaq 100. Michael Saylor predicts that the mining company will become the next company included in Nasdaq. Last week, MARA added $1.1 billion in BTC. Looking back at recent developments, on December 10, Bitcoin mining company MARA announced that it purchased 11,774 bitcoins at an average price of $96,000 per bitcoin, totaling $1.1 billion. For this large-scale Bitcoin purchase, MARA adopted a financing method of zero-coupon convertible notes, which allows the company to issue debt without paying interest and can be converted into stock in the future. Currently, MARA is the second-largest publicly traded company holding Bitcoin globally, with 40,435 BTC, second only to MicroStrategy. Marathon Digital Holdings has the second-largest Bitcoin holdings after MicroStrategy. Additionally, MARA's latest financial report shows that Bitcoin mining revenue for this quarter reached 12.3%, and the return rate for the year so far has reached 47.6%, demonstrating strong profitability against the backdrop of rising cryptocurrency market value. In addition to impressive mining revenue performance, MARA has also made significant strides in expanding its mining capacity. The company recently announced that it has signed an agreement to acquire a wind power plant located in Hansford County, Texas, which has a grid-connected capacity of 240 MW and a nominal wind power generation capacity of 114 MW, along with the construction of an adjacent data center. The next cryptocurrency company expected to enter Nasdaq? Unlike MicroStrategy, MARA's core business focuses on mining efficiency, energy costs, and equipment upgrades, which means its stock price is influenced not only by Bitcoin prices but also by the economics of mining operations and the stability of the regulatory environment. However, when Bitcoin prices are relatively low, mining costs may exceed revenues, becoming a potential operational risk. According to the latest data from Google Finance, MARA's stock price has risen by 16.74% in the past six months, showing impressive growth potential. However, compared to MicroStrategy's market capitalization, which is approaching $98 billion, MARA's position in the capital market still has a significant gap.