MARA Holdings has significantly expanded its Bitcoin portfolio with a $1.1B acquisition, while simultaneously advancing its renewable energy initiatives through a new wind farm investment in Texas.
MARA Holdings Inc. (NASDAQ: MARA), a Florida-based crypto mining company that focuses on the Bitcoin ecosystem, has announced the acquisition of more BTC. The $7.7 billion company announced on Tuesday, December 10, that it had completed the acquisition of 11,774 Bitcoins, worth about $1.1 billion at an average price of about $96k.
Consequently, MARA Holdings held about 40,435 BTC $110 169 24h volatility: 0.6% Market cap: $2.19 T Vol. 24h: $19.46 B as of December 9, valued at around $3.9 billion as Bitcoin price hovers between $97k and $98k in the past 24 hours. According to the SEC filings, the company achieved a BTC Yield of 12.3 percent between October 1, 2024, to December 9, 2024.
Additionally, the company also announced a BTC Yield of 47.6 percent between January 1, 2024, and December 9, 2024. Furthermore, the company has been issuing more shares in the past year to raise more funds to purchase more Bitcoins.
As Coinspeaker reported earlier this month, MARA Holdings increased its convertible senior notes offering from $750 million to $850 million, with an option for the private investors to purchase an additional $150 million notes.
MARA Holdings and Market Outlook
MARA Holdings has grown to a major Bitcoin-focused company that has been converting clean, stranded, and underutilized energy into economic value. As a result, the company has attracted more investors in the recent past, seeking to benefit from its strategic Bitcoin adoption plan as a hedge against inflation.
Earlier this month, the company announced the acquisition of a wind farm in Hansford County, Texas, with 240 MW of interconnection capacity and 114 MW of wind capacity. The company has paid significant attention to renewable energy sources to minimize the carbon footprint of the Bitcoin network in the long haul.
Following the strengthening of the Bitcoin position, MARA stock has rallied more than 47 percent in the past three months to trade at about $23.54 at the time of this writing. However, due to the ongoing share dilution in the recent past, MARA stock has dropped around 6.7 percent in the past month.
Impact on Bitcoin Network
With a hash rate of over 40 exahashes per second (EH/s), Marathon Digital Holdings’ mining operations play a crucial role in securing the Bitcoin network in return for block rewards. The notable success of Marathon Digital in the past year has influenced other companies to follow the same direction in adopting a Bitcoin strategy.
As a result, Bitcoin price has been the best-performing global asset in the past two years, having outshined major stock indexes and most precious metals. Furthermore, Bitcoin has achieved a $2 trillion valuation status, outpacing major tech companies and fiat currencies around the world.
next