Marathon Digital Holdings has raised $1.000 billion by issuing convertible bonds to increase its Bitcoin holdings.
MARA, which is one of the largest Bitcoin miners, has adopted a similar strategy to MicroStrategy to accumulate Bitcoin on a recurring basis as a core part of its business model.
The company recently announced a $1.000 billion raise via convertible bonds, with which it has acquired an additional 5.771 bitcoins to strengthen its position in the crypto market.
According to the published data, Marathon Digital Holdings now holds 33.875 BTC, valued at around $3.400 billion, currently. With this amount of bitcoins in its reserves, the crypto miner ranks as the second public company with the largest BTC holdings, after MicroStrategy.
Bitcoin, the pillar of the company's financial strategy and growth
Marathon Digital’s decision to replicate MicroStrategy’s Bitcoin investment strategy not only highlights the importance of Bitcoin as a valuable asset and store of value, but also showcases innovation in financial practices within the sector.
Much like MicroStrategy, which has been a pioneer in institutional adoption of Bitcoin, MARA is positioning itself to lead the market by actively accumulating the cryptocurrency, an approach that could influence the global market by reducing the circulating supply of Bitcoin and potentially boosting its value in the long term.
The issuance of convertible bonds with 0% interest represents a financial strategy that has been successfully used by MicroStrategy, which has attracted global attention with its constant and aggressive accumulation of bitcoins. This investment strategy, replicated by Marathon Digital, has allowed the company to significantly increase its exposure to Bitcoin and increase its value in the market. Since MicroStrategy began investing in Bitcoin, in August 2020, the value of its MSTR shares has increased. more than 3.000%.
Marathon Digital shares rose 7% following the company's announcement of its private convertible note offering and the acquisition of more than 5.700 bitcoins.
Experts have pointed out that this increase in the value of the crypto miner's shares may suggest that investors are looking favorably on the strategy adopted by the company to accumulate bitcoins. The growing confidence that the price of Bitcoin could surpass historical levels, such as $100.000 or more, has led many to consider companies like MARA as an attractive option to invest in and gain indirect exposure to the leading cryptocurrency.
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
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