English | Español | Français
Market Cap: $ 3.42 T 24h Vol: $ 71.58 B BTC Share: 61.45%
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
bitcoinBTC/USD
$ 105,795.35 0.18%
No Result
View All Result
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
BTCNEWS
No Result
View All Result
Home Latest

Marathon Digital Buys 4,144 Bitcoins Worth $249M

The Bitcoin miner boosted its reserves to over 25,000 BTC

Rada Mateescu by Rada Mateescu
August 15, 2024
Share on FacebookShare on Twitter

Summary

  • Marathon Digital acquired 4,144 BTC worth about $249 million.
  • Their total reserves are now over 25,000 BTC.

According to the latest reports, Marathon Digital bought 4,144 Bitcoin worth about $249 million. In a post on X, the Bitcoin miner also highlighted the securing of $300 million through an oversubscribed offering of convertible senior notes.

MARA also revealed that the strategic reserves of Bitcoin are now over 25,000 BTC.

According to their notes, MARA bought BTC at an average price of $59,500. The Bitcoin miner saw net proceeds of around $292.5 million for its convertible senior notes due September 2031, which bear a 2.125% annual interest rate and are convertible into cash Marathon stocks or both options.

MARA also said that the remaining cash from the note sales would be used to buy more BTC and for general corporate purposes.

New reports reveal that a MARA spokesperson recently said that the Bitcoin miner company believes that Bitcoin is the premier strategic treasury asset and they are adopting a multifaceted strategy for acquiring Bitcoin.

Recently, the company said that every block mined by them is stamped “Made in USA.”

MARA is the only large-scale miner that is ensuring all their BTC is 100% American-made.

MARA via X

Securing Block Space and Bitcoin

In a post via X, MARA noted that as Bitcoin’s importance grows, owning block space becomes a matter of national security especially as sovereigns begin to ramp up their efforts to gain influence in the Bitcoin ecosystem.

They noted that it’s economically infeasible for any single entity to dominate the Bitcoin network, but owning a substantial part of the global hash rate offers strategic advantages, including timely transaction processing.

MARA reportedly strives to maintain or increase their share in block space as the global hash rate continues to surge, by investing in their mining operations.

They also noted that the commitment to owning Bitcoin is important to ensure that MARA remains a key player in the ecosystem.

Tags: Bitcoin (BTC)

Related News

bitcoin debate

Core Developers Are ‘Risk To Bitcoin’ In Governance Battle, Says JAN3 CEO Samson Mow

June 10, 2025
Interview with 0G Labs’ Michael Heinrich on The Convergence of AI and web3

Interview with 0G Labs’ Michael Heinrich on The Convergence of AI and web3

June 10, 2025
market libra

Argentine President Cleared Of Ethics Violations In $4.5 Billion LIBRA Crash

June 10, 2025
ripple

Ripple Bets Big On Japan: $200K Partnership Grants Signal Major Asian Expansion

June 10, 2025
bitcoin
Bitcoin (BTC)
Rank: 1
$ 105,795.35
Price (BTC)
Ƀ1.00000000
Marketcap
$ 2.10 T
Volume
$ 16.70 B
24h Change
0.18%
Total Supply
19.88 M BTC

  • About Us
  • Contact
  • Advertise
X-twitter Telegram Facebook Instagram Youtube Medium Linkedin

Information you can trust

BTCNews.com provides Bitcoin news and other cryptocurrency news, reaching millions of crypto enthusiasts daily.

It offers comprehensive coverage of business, financial, and international news related to digital assets.

Serving professionals through digital platforms, industry conferences, and direct updates, BTCNews.com is a premier provider of blockchain and crypto news.

Disclaimer: The information provided by BTCNews.com is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments are highly volatile and involve significant risks.

Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. BTCNews.com is not responsible for any losses incurred due to the use of information provided on this site.

  • © 2008 - 2024 BTCNews.com
  • Terms of Use
  • Privacy
  • Cookies
No Result
View All Result
  • Market
    • Crypto Prices
    • Crypto Exchanges
  • Learn
    • Glossary
  • News
    • Latest

© 2008 - 2024 BTCNews.com