Marathon Digital Holdings, a leading publicly traded Bitcoin mining company, recently expanded its Bitcoin holdings with a $249 million purchase, bringing the total to over 25,000 Bitcoin, valued at approximately $1.5 billion.

On August 12th, the company announced a $250 million convertible note offering, which was increased to $300 million due to strong demand. 

Marathon used $249 million of the proceeds to acquire 4,144 additional Bitcoin at an average price of $59,500 per coin.

In July, Marathon had already invested $100 million in Bitcoin on the open market as part of its strategy to retain its mined Bitcoin rather than sell it. 

The company’s approach aligns with a strategy similar to that of MicroStrategy, focusing on long-term Bitcoin accumulation.

Other companies, such as Semler Scientific and Metaplanet, are also leveraging debt markets to buy Bitcoin, reflecting a growing trend among public firms to invest in the asset, particularly in a low-interest-rate environment.

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