U.S. Bitcoin miner Marathon Digital Holdings has spent approximately $67 million on its latest Bitcoin purchase, following a $1 billion convertible note sale with a 0% interest rate.
According to a post on X by MARA Holdings, the Florida-based Bitcoin (BTC) startup has increased its BTC portfolio to 34,794 tokens, valued at approximately $3.3 billion based on a spot price of $95,000. At the time of writing on Nov. 27, BTC was trading at $96,400.
Marathon Digital disclosed that it had executed note buybacks worth $200 million and retained $160 million in capital for additional Bitcoin purchases. The company hinted at employing a “buy the dip” strategy. Mara also updated its year-to-date BTC yield to a 36.7% increase, using a metric that measures the growth of BTC holdings relative to share dilution.
The use of BTC yield as a performance indicator has gained traction among corporate Bitcoin holders, particularly after convertible note offerings. MicroStrategy pioneered this trend over four years of Bitcoin acquisitions, financed partly through stock and note sales.
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Author: Naga Avan-Nomayo
