bitcoin

Marathon Digital Spends $600 Million on Bitcoin Acquisition

The Big Whale

— 1 min read
  • Crypto miner Marathon Digital has spent over $600 million to purchase Bitcoin in the last two months.
  • MARA Holdings acquired 6,484 Bitcoin between Oct. 1 and Nov. 30 for $618.3 million.
  • MARA Holdings plans to offer $700 million in convertible senior notes to purchase more Bitcoin.
  • MARA Holdings is the second-largest corporate Bitcoin holder, after MicroStrategy.
  • MARA urges the US government to speed up Bitcoin accumulation for economic and national security interests.
  • MARA sold 63% of mined BTC earlier this year, shortly after Bitcoin's halving event.

Summary :
Crypto mining company Marathon Digital has spent over $600 million to purchase Bitcoin in the past two months, according to a filing with the US Securities and Exchange Commission. The company acquired 6,484 Bitcoin between October and November for $618.3 million in cash. Marathon also plans to offer $700 million in convertible senior notes to buy more Bitcoin and repurchase existing notes. Marathon is the second-largest corporate Bitcoin holder, after MicroStrategy. The company has urged the US government to accelerate its Bitcoin accumulation, citing the need to secure economic and national security interests. In May, Marathon sold 63% of its mined Bitcoin.

Sources :

- CoinTelegraph

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