Marathon Digital buys $1.1B worth of bitcoin as companies scramble to scoop up coins

11,774

Marathon Digital said this morning that it has purchased another 11,774 bitcoin. The bitcoin miner paid about $1.1 billion for the coins, and said the most recent buy brings its total BTC stash up to 40,435 coins valued at $3.9 billion.

Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 11,774 BTC for ~$1.1 billion at ~$96,000 per #bitcoin and has achieved BTC Yield of 12.3% QTD and 47.6% YTD. As of 12/9/2024, we hold 40,435 BTC, currently valued at $3.9 billion based on a… pic.twitter.com/2uvnrhbxaP
— MARA (@MARAHoldings) December 10, 2024

The announcement came a day after MicroStrategy — an enterprise-software business that’s basically become a de facto bitcoin-holding company — said it’d purchased another $2.1 billion worth of BTC, bringing the value of that company’s stockpile up to a staggering $41 billion.

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