{"id":27264,"date":"2024-08-15T09:07:18","date_gmt":"2024-08-15T09:07:18","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/08\/15\/marathon-digital-holdings-buys-249-million-worth-of-bitcoin\/"},"modified":"2024-08-15T09:07:18","modified_gmt":"2024-08-15T09:07:18","slug":"marathon-digital-holdings-buys-249-million-worth-of-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/08\/15\/marathon-digital-holdings-buys-249-million-worth-of-bitcoin\/","title":{"rendered":"Marathon Digital Holdings Buys $249 Million Worth of Bitcoin"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/marathon-digital-holdings\">Marathon Digital Holdings<\/a>, one of the largest publicly traded Bitcoin miners, purchased $249 million more worth of Bitcoin. This latest acquisition expands Marathon&#8217;s corporate bitcoin treasury to over 25,000 BTC.<\/p>\n<p>JUST IN: \ud83c\uddfa\ud83c\uddf8 Marathon Digital Holdings buys 4144 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> worth $249 million.<br \/> <a href=\"https:\/\/t.co\/PnMm9RLuev\">pic.twitter.com\/PnMm9RLuev<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1823837028171096239?ref_src=twsrc%5Etfw\">August 14, 2024<\/a><\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/business\/marathon-digital-holdings-to-raise-250-million-to-buy-more-bitcoin\">On August 12th<\/a>, Marathon announced a $250 million convertible note offering to raise funds for Bitcoin purchases. The notes were met with strong demand, allowing Marathon to upsize the deal to $300 million.<\/p>\n<p>The company then used $249 million of the proceeds to accumulate 4,144 additional Bitcoin at an average price of $59,500 per Bitcoin. This boosts Marathon&#8217;s Bitcoin reserves to over 25,000 BTC worth nearly $1.5 billion.<\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/business\/mara-purchases-100-million-of-bitcoin-adopts-hodl-strategy\">In July<\/a>, Marathon bought $100 million of Bitcoin on the open market as part of its long-term &#8220;hodl&#8221; strategy. The Nasdaq-listed miner aims to hold newly mined coins rather than sell them.<\/p>\n<p>Marathon is aggressively expanding its Bitcoin stash by mimicking MicroStrategy&#8217;s corporate playbook. Other firms, such as <a href=\"https:\/\/bitcoinmagazine.com\/business\/semler-scientific-buys-another-6-million-worth-of-bitcoin\">Semler Scientific<\/a> and Metaplanet, are also raising money in debt markets to buy more Bitcoin and ride its adoption curve.\u00a0<\/p>\n<p>These savvy public companies are using the fiat system&#8217;s cheap lending rates to accumulate scarce Bitcoin. This demonstrates Bitcoin&#8217;s growing conviction that it is the best strategic reserve asset for public companies.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p>Marathon Digital Holdings, one of the largest publicly traded Bitcoin miners, purchased $249 million more worth of Bitcoin. This latest acquisition expands Marathon&#8217;s corporate bitcoin treasury to over 25,000 BTC. JUST IN: \ud83c\uddfa\ud83c\uddf8 Marathon Digital Holdings buys 4144 #Bitcoin worth $249 million. pic.twitter.com\/PnMm9RLuev \u2014 Bitcoin Magazine (@BitcoinMagazine) August 14, 2024 On August 12th, Marathon announced [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27264","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27264"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=27264"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27264\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=27264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=27264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=27264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}