Public companies are continuing to buy up large stashes of Bitcoin near the top.

Top Bitcoin miner MARA, formerly known as Marathon Digital, announced Tuesday that it had snapped up 11,774 Bitcoin for $1.1 billion. That’s an average price of $96,000 per coin. 

Bitcoin hit an all-time high last week of $103,607 after crossing the long-anticipated $100,000 mark. However, it has cooled off in the last day, currently sitting at a price of about $96,300 as of this writing after rebounding from a price below $95,000.

MARA—which trades on the Nasdaq under the same ticker—said in a Securities and Exchange Commission filing that it now holds 40,435 Bitcoin. At the current price, the company’s holdings are now worth nearly $3.9 billion. 

MARA’s stock is down by almost 4% so far today, trading hands for about $23. Over a six month period, it has risen by 18%. 

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Author: Mathew Di Salvo