Marathon Digital (MARA), one of the world’s largest Bitcoin mining companies, announced that it has purchased an additional 1,300 Bitcoins, equivalent to a value of approximately $130.66 million.
This latest purchase follows the company’s recent purchase of 1,423 Bitcoin ($139.5 million), bringing Marathon’s recent total purchase of 2,723 Bitcoin.
$850 million bond issue
Marathon made the purchases following its recent completion of its second $850 million convertible note issuance, which the company said used the proceeds to buy Bitcoin and repurchase a portion of its existing notes due in 2026.
Marathon Digital is pursuing an aggressive acquisition strategy to strengthen its leadership position in the Bitcoin mining space, underscoring its confidence in Bitcoin’s growth potential as a long-term store of value.
MARA has 34,959 Bitcoin on its balance sheet as of November 30. The mining giant produced a total of 907 BTC during the month, thus showing a 26% growth compared to the same period last year.
Stay tuned.
