Marathon Digital Holdings has made a major investment by purchasing 11,774 Bitcoin, spending approximately $1.1 billion. This purchase is a strong indication of the company’s ongoing strategy of buying BTC.
Marathon Digital joins other companies like MicroStrategy and Riot Platforms in their significant purchases of Bitcoin. The company announced the purchase through a social media post.
Although Marathon Digital is known for its successful Bitcoin mining operations in the US, it has also been supplementing this with direct BTC purchases.
These purchases were made with funds from a recent convertible note offering, which exceeded initial expectations. According to the company, the BTC Yield for QTD was 12.3% and 47.6% YTD.
As of December 9, 2024, Marathon Digital holds 40,435 BTC, with a current value of $3.9 billion based on a spot BTC price of $96,500.
