Marathon Digital Acquires Over $270,000,000 Worth of Bitcoin (BTC) Following Convertible Note Offer: Lookonchain

December 9, 2024 The Daily Hodl

Bitcoin

New data from market intelligence firm Lookonchain reveals that Bitcoin (BTC) mining company Marathon Digital accumulated hundreds of millions of dollars worth of the crypto king following a convertible note offer. In a thread on the social media platform X, Lookonchain finds that Marathon Digital initially acquired nearly $140 million worth of Bitcoin after closing its […]

The post Marathon Digital Acquires Over $270,000,000 Worth of Bitcoin (BTC) Following Convertible Note Offer: Lookonchain appeared first on The Daily Hodl.

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MARA Holdings acquired over $600M Bitcoin in the last two months

December 2, 2024 Coin Telegraph

Bitcoin

MARA Holdings urged the US government to be more aggressive in securing positions in Bitcoin and Bitcoin mining.

Crypto miner Marathon Digital has spent more than $600 million to purchase Bitcoin in the last two months, according to a filing with the United States Securities and Exchange Commission.

In a Dec. 2 filing, MARA Holdings said it acquired 6,484 Bitcoin (BTC) between Oct. 1 and Nov. 30. The coins were purchased for $618.3 million in cash at an average price of $95,352 per BTC.

In addition, MARA Holdings said in a press release that it intends to offer $700 million in convertible senior notes due 2031 in a private offering. The proceeds will be used to purchase more Bitcoin and repurchase existing convertible notes due in 2026.

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MARA purchases 6,474 Bitcoin with convertible notes offering

November 27, 2024 Coin Telegraph

Bitcoin

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.

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Crypto miner MARA wants US moving quicker to gobble up Bitcoin

November 27, 2024 Coin Telegraph

Coin Telegraph

MARA Holdings says there will soon be a heated race among nations to gather Bitcoin, and the US needs to step up its game.

Crypto miner MARA Holdings has urged the United States to act more aggressively to “secure dominant positions in Bitcoin and Bitcoin mining,” claiming it’s a matter of national security.

“The United States faces an urgent need to secure its economic and national security interests,” MARA wrote in a Nov. 26 X post.

The miner added that the US needs to take the lead in holding Bitcoin (BTC) just like it has with gold, particularly with the rising trend of de-dollarization — countries shedding reliance on the US dollar.

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Crypto Biz: MicroStrategy’s Bitcoin bet swells

November 16, 2024 Coin Telegraph

Coin Telegraph

This week’s Crypto Biz features MicroStrategy’s Bitcoin strategy, Coinbase’s and Kaiko’s recent acquisitions, MARA’s third-quarter earnings, and MoonPay’s new fiat gateway.

MicroStrategy is ramping up its Bitcoin (BTC) reserve strategy. On Nov. 11, the company disclosed another large purchase of the cryptocurrency, adding 27,200 BTC to its treasury for about $2.03 billion in cash.

According to the firm, the coins were purchased between Oct. 31 and Nov. 10, with an average cost of $74,463 per BTC, including fees and expenses.

The company remains by far the largest corporate holder of Bitcoin, followed only by major mining firms. According to the “Saylor Tracker,” named after the firm’s founder and chairman, Michael Saylor, MicroStrategy now holds 279,420 BTC, worth $24.9 billion as the coin price hovers around $89,000.

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Bitcoin mining stocks rocket 24% on macro climate, AI play: Analyst

October 29, 2024 Coin Telegraph

Bitcoin Network Difficulty

Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.

Share prices of Bitcoin miners soared as high as 24.4% on Oct. 28 as Bitcoin rallied over $70,000 — with an analyst pointing to an increasingly favorable macroeconomic climate and miners’ continued diversification into AI.

“Deficit spending and lower interest rates are driving global liquidity higher [while] investors are fearful of high inflation over the long term, as evidenced by poor performance from treasury bonds since the Sept[ember] rate cut,” Mitchell Askew, head analyst at Bitcoin (BTC) mining firm Blockware told Cointelegraph.

As such, investors are turning to the Bitcoin markets where Bitcoin mining stocks are trading at a “beta.”

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Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham

October 23, 2024 Coin Telegraph

Tesla likely still owns 0M in Bitcoin despite recent shuffle: Arkham

Arkham Intelligence

Tesla’s massive Bitcoin transfers initially sparked fears of a market dump, but Arkham's data suggests the assets are still under the firm's control.

Electric car manufacturer Tesla likely still owns its entire Bitcoin stash worth $780 million despite transferring all the funds to unidentified wallets on Oct. 15, according to a blockchain analytics firm.

“We believe that the Tesla wallet movements that we reported on last week were wallet rotations with the Bitcoin still owned by Tesla,” Arkham Intelligence said in an Oct. 22 X post.

Tesla split the 11,509 Bitcoin between seven wallets holding between 1,100 and 2,200 BTC on Oct. 15, Arkham noted. Wallet addresses “1Fnhp” and “1LERL” received the largest batches worth $142.2 million and $128.1 million, respectively.

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Bitcoin miners may gain $13.9B yearly from 20% shift to AI and HPC: VanEck

August 18, 2024 Coin Telegraph

bitcoin miner

Bitcoin miners could increase profitability and improve "bad balance sheets" by allocating some of their energy capacity to the AI and HPC sectors, according to VanEck.

Bitcoin miners have the opportunity to potentially generate around $13.9 billion in additional yearly revenue if they partially transition to providing energy to the artificial intelligence and high-performance computing (HPC) sector by 2027, according to investment firm VanEck.

“AI companies need energy, and Bitcoin miners have it,” VanEck stated in an Aug. 16 report. The firm believes that Bitcoin miners, which face profitability risks from volatile operating costs and Bitcoin’s (BTC) price fluctuations, may find it beneficial for their financial positions to redirect some of their energy capacity towards the growing sectors.

“Bitcoin miners generally have bad balance sheets, either because of too much debt, too much share issuance, too much executive compensation, or some combination of all three,” VanEck claimed.

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Marathon Digital buys $249M Bitcoin, reserves reach 25K BTC

August 15, 2024 Coin Telegraph

Bitcoin

Marathon’s latest 4,144 Bitcoin buy comes as boss Fred Thiel last month said it was adopting a “hodl strategy” for the cryptocurrency.

Bitcoin miner Marathon Digital has purchased another $249 million worth of Bitcoin after raising $300 million from a senior note offering.

On Aug. 14, the miner said it used part of the note sale proceeds to buy around 4,144 Bitcoin (BTC) at an average price of roughly $59,500, which brought its “strategic Bitcoin reserve to over 25,000 BTC,” it added on X.

Marathon saw net proceeds of around $292.5 million for its convertible senior notes due September 2031, which bear a 2.125% annual interest rate and are convertible into cash, Marathon stock, or both.

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Cleanspark Secures 26,000 Bitmain Immersion Miners in $167.7M Deal

August 13, 2024 Bitcoin.com

Cleanspark Secures 26,000 Bitmain Immersion Miners in 7.7M Deal

ASIC miners

Cleanspark, a publicly-listed bitcoin mining company, recently shared in its 10-Q report that it has acquired 26,000 units of Bitmain’s S21 XP immersion-cooled bitcoin mining machines. These types of cutting-edge immersion miners, known for their quieter operation and impressive hashrate performance, are gaining traction in the industry. Cleanspark to Acquire Next-Gen Immersion-Cooled Mining Rigs From […]

marathon digital