US Bitcoin mining firm buys $1.1 billion worth of BTC as buying spree continues  

The Mining firm, which is up there with Microstrategy as one of the largest corporate holders of Bitcoin, made the recent purchase days after Microstrategy announced it acquired 21,500 BTC in the first week of December.

Marathon Digitals announced its latest acquisition via its official X page revealing the number of BTC bought, the average price, and the percentage yield.

“Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 11,774 BTC for ~$1.1 billion at ~$96,000 per #bitcoin and has achieved BTC Yield of 12.3% QTD and 47.6% YTD. As of 12/9/2024, we hold 40,435 BTC, currently valued at $3.9 billion based on a spot BTC price of $96,500.” Mara holdings tweeted 

Despite being a leading Bitcoin mining firm in the US, Marathon Digital augments the BTC it benefits from its mining operation by direct purchases of the asset.

The mining firm now holds 40,435 BTC valued at $3.6 billion based on a market price of $96,500. Mara Holdings joins the likes of Microstrategy and Riot platforms on a Bitcoin purchase spree.

In November the firm purchased 6,474 BTC and announced its intention to acquire more. Riot platforms offered $500 million in convertible notes to buy BTC too.

Microstrategy, Mara Holdings, and Riot Platforms all make up the top 5 list of largest corporate holders of Bitcoin.

The recent acquisition spree by US companies has opened a discussion around a new trend amongst Bitcoin whales.