Bitcoin mining company MARA has revealed impressive financial and operational updates. According to data from ChainCatcher, the firm raised $1.925 billion in November and December 2024 through convertible notes. The funds were used to purchase 15,574 BTC at an average price of $98,529, amounting to approximately $1.53 billion. Additionally, MARA repurchased $263 million in principal of its existing convertible notes due in 2026 and plans to allocate the remaining proceeds to acquire more Bitcoin.
MARA's performance metrics show a quarter-to-date (QTD) yield of 22.5% and a year-to-date (YTD) yield of 60.9%. As of December 18, 2024, the company holds 44,394 BTC, valued at $4.45 billion based on the current Bitcoin spot price of $100,151.
These moves underline MARA's aggressive expansion and strategic focus on maximizing returns in the Bitcoin market.
