On November 23, COINOTAG reported that crypto mining giant MARA has made a significant move by investing $550 million to acquire 5,771 BTC, averaging an entry price of $95,554 per coin. This latest acquisition boosts MARA’s total Bitcoin holdings to approximately 33,875 BTC. As per the current spot market rate of $99,000 for Bitcoin, these assets are now valued at around $3.4 billion.
Earlier, on November 21, MARA successfully finalized a $1 billion convertible note financing, highlighting the firm’s strategy to enhance its operational capacity in the competitive Bitcoin mining landscape. The company continues to position itself as a dominant force within the sector, leveraging such financial maneuvers to solidify its stance amidst fluctuating market conditions. Investors are keenly observing how these developments may impact MARA’s future and the broader cryptocurrency market.
Source: https://en.coinotag.com/breakingnews/mara-invests-550-million-in-bitcoin-btc-boosting-holdings-to-33875-btc-amid-record-financing/