Bitcoin mining companies MARA (formerly known as Marathon Digital) and Hut 8 announced significant Bitcoin purchases on Thursday, joining other firms in accumulating the leading cryptocurrency within their treasuries. MARA increased its Bitcoin holding by 3,800 BTC, bringing the total to 44,394 BTC valued at over $4.4 billion.
This addition followed a previous purchase of 11,774 BTC for $1.1 billion last week. On the other hand, Hut 8 purchased 990 BTC worth approximately $100 million, bringing its total holding to 10,096 BTC valued at over $1 billion. Both acquisitions were made using funds raised through convertible note offerings in November and December.
While MARA’s average purchase price was around $98,529 per Bitcoin, Hut 8 acquired its Bitcoins at an average cost of $101,710 per coin, slightly higher than the current Bitcoin price of $97,951. Both companies have seen significant growth in their Bitcoin reserves in the past year, according to their latest SEC filings.
However, they faced losses along with other crypto assets during the market decline in the afternoon.
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