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MICA Daily | Listed mining company Marathon Digital has purchased over $1.5 billion worth of BTC.
Marathon Digital, a US-listed mining company, has purchased a total of over $1.5 billion worth of Bitcoin (BTC) in the past two months, with the funds coming from the issuance of two convertible notes. This has resulted in the company's BTC holdings growing by over 50% this quarter and nearly 200% for the year. The company has leveraged financing operations to invest in BTC and generate remarkable returns, and plans to continue purchasing BTC.
Opening its financial statements, financial operations revealed that MARA raised approximately 1.553 billion through the issuance of convertible notes in November and December this year, exchanging for 15,574 BTC at an average price of about 98,529 USD. As of December 18, the company holds 44,394 BTC, a remarkable increase compared to 26,747 BTC at the end of the third quarter and 15,174 BTC at the end of 2023, consistent with its previous statement of adhering to BTC investment.
MARA's strategy reflects the mining company's high confidence in the future value of BTC, and expands its asset base through financing leverage, similar to the operation nature of MicroStratagey. Other miners such as Hut 8 and Riot Platforms also invested a large amount of funds to purchase BTC in December, driving up the stock prices of these mining companies, demonstrating a strong bullish sentiment among institutions and miners. Please provide text to be translated. Disclaimer: The article represents the personal views and opinions of the author, not the views and positions of Gate.io. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Gate.io will not be held responsible for any direct or indirect losses incurred by investors.
〈MICA Daily | Listed miner Marathon Digital has purchased over $1.5 billion in BTC〉This article was first published in "Blocklike".