According to BlockBeats, on November 23, Marathon Digital Holdings, a prominent cryptocurrency mining company, announced a significant acquisition of Bitcoin. The company has invested $550 million to purchase 5,771 BTC at an average price of $95,554 per Bitcoin. This acquisition brings Marathon's total Bitcoin holdings to approximately 33,875 BTC. Based on the current spot price of Bitcoin at $99,000, the total value of Marathon's Bitcoin holdings is estimated to be around $3.4 billion.
This substantial investment follows Marathon's recent financial maneuver, as reported by BlockBeats on November 21. The company successfully completed a $1 billion convertible note financing, which likely facilitated this large-scale Bitcoin purchase. Marathon Digital Holdings continues to position itself as a major player in the cryptocurrency mining industry, leveraging its financial resources to expand its Bitcoin reserves. The company's strategic investments reflect its confidence in the long-term value of Bitcoin and its commitment to maintaining a strong presence in the digital asset market.
