MARA, formerly Marathon Digital, has just announced the purchase of 703 more BTC, bringing its total Bitcoin holdings to 34,797 BTC, worth approximately $3.3 billion. 🤑

The company has completed a $1 billion convertible bond issuance, with $199 million expected to be used to buy back bonds maturing in 2026 and the remainder to buy more Bitcoin. MARA also plans to issue another $700 million in convertible bonds.

This strategy is similar to MicroStrategy, which has been using corporate debt to buy Bitcoin since 2020. Despite the risks, MARA remains optimistic about Bitcoin's long-term potential. 📈