Bitcoin Mining Giant Surprises with Billion-Dollar Double Investment
MARA Holdings has once again made international headlines with a billion-dollar Bitcoin investment and a new record in mining. On December 10, the company purchased 11,774 Bitcoins for a total of $1.1 billion while retaining its self-mined coins. The average purchase price was around $100,000 per Bitcoin, financed through convertible bonds issued in November. This acquisition brings MARA's holdings to 40,435 BTC, valued at approximately $3.92 billion.
A significant breakthrough occurred as MARA achieved an unprecedented hash rate of 50 EH/s, positioning it as the leader among publicly traded mining companies. At the end of Q3, their hash rate stood at 36.9 EH/s—an increase of 13.1 EH/s within just three months due to aggressive expansion strategies that solidify MARA’s market leadership position.
The markets reacted cautiously despite these milestones; shares fell by 4.4%, closing at $22.81 amid investor concerns over sustainability amidst volatile conditions where Bitcoin fluctuated between $104k-$97k recently (source: FinanzNachrichten.de).
Riot Strengthens Bitcoin Reserves with Convertible Bonds Worth Half a Billion Dollars
In another strategic move from major players in the cryptocurrency space, Riot Platforms announced plans to issue senior unsecured notes worth half-a-billion dollars, maturing by the end of the decade. Their aim is to bolster existing reserves further while enhancing their overall standing across the broader crypto landscape.
This decision aligns perfectly with similar tactics employed by companies like MicroStrategy, which frequently adopts comparable approaches to increase their respective stockpiles, having amassed a staggering amount exceeding four-hundred-thousand-plus units collectively. This is undoubtedly a remarkable feat, and noteworthy achievement without question. The future holds much anticipation as these developments unfold.
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