According to Bitcoin-only financial services firm River, 62 publicly traded companies use a Bitcoin treasury strategy as of November 2024.
Mining company MARA, formerly Marathon Digital, updated investors on November 27, outlining its acquisition of 6,474 Bitcoin (BTC) through its recent 0% $1 billion convertible note offering.
According to the announcement, the company purchased an additional 703 Bitcoin following the initial purchase of 5,771 BTC at an average price of $95,395 per coin. The year-to-date, per-share yield of MARA's BTC is 36.7%, and MARA currently holds roughly 34,797 Bitcoin in its treasury, valued at approximately $3.3 billion.
MARA also purchased a portion of its 2026 notes for $200 million and will use the roughly $160 million remaining from the convertible debt raise to purchase more Bitcoin at more attractive levels during price dips.
