{"id":100314,"date":"2024-11-21T13:22:10","date_gmt":"2024-11-21T17:22:10","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=100314"},"modified":"2024-11-21T13:27:09","modified_gmt":"2024-11-21T17:27:09","slug":"mara-holdings-secures-1b-to-buy-more-bitcoin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mara-holdings-secures-1b-to-buy-more-bitcoin\/","title":{"rendered":"MARA Holdings Secures $1B To Buy More Bitcoin"},"content":{"rendered":"\n

Bitcoin miner MARA Holdings<\/a>\u00a0has completed its $1 billion private offering, with some of the profits slated to be used to buy more BTC.<\/p>\n\n\n\n

\"MARA<\/figure>\n\n\n\n

Bitcoin mining company Marathon Digital Holdings (MARA) has raised nearly $1 billion by selling convertible notes. <\/p>\n\n\n\n

The company plans to use part of the proceeds to purchase additional Bitcoin (BTC), though the exact amount has not been disclosed.<\/p>\n\n\n\n

Marathon Digital Secures $1 Billion for Bitcoin Purchases<\/h2>\n\n\n\n

In a press release\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Marathon Digital announced it had raised net proceeds of $980 million from the sale of convertible notes after deducting initial purchaser discounts and commissions but before covering estimated offering expenses.<\/p>\n\n\n\n

A portion of these funds will go toward acquiring more BTC. Marathon currently holds approximately 27,000 BTC, making it the second-largest Bitcoin holder among public companies.<\/p>\n\n\n\n

This funding announcement follows Marathon\u2019s recent plan to raise $700 million through convertible notes set to mature in 2030. <\/p>\n\n\n\n

The move appears to position the company as a rival to MicroStrategy, which recently increased its private offering to $2.6 billion, with some proceeds allocated for Bitcoin purchases.<\/p>\n\n\n\n

Despite Marathon\u2019s plans, it remains significantly behind MicroStrategy<\/a> in terms of Bitcoin holdings. MicroStrategy recently acquired 51,780 BTC for $4.6 billion, bringing its total holdings to 331,200 BTC.<\/p>\n\n\n\n

Market analyst Jeff Punter remarked on the difficulty of rivaling MicroStrategy\u2019s position. He stated, \u201cIt is almost impossible for any other public company to catch up with MicroStrategy at this point,\u201d adding that replicating MicroStrategy\u2019s Bitcoin strategy would require an investment of up to $60 billion.<\/p>\n\n\n\n

MARA Stock Sees Growth<\/h2>\n\n\n\n

Following the announcement, Marathon\u2019s stock (MARA) has experienced a notable rise. According to Nasdaq data, the stock is up nearly 3% since trading began today. <\/p>\n\n\n\n

Marathon\u2019s exposure to Bitcoin has positively influenced its stock value, especially as BTC prices continue climbing toward the $100,000 milestone.<\/p>\n\n\n\n

Interestingly, MarketWatch<\/use><\/svg><\/span><\/a> data reveals that MARA\u2019s stock is down year-to-date (YTD), which some analysts find surprising given Bitcoin's strong performance this year. <\/p>\n\n\n\n

However, the stock has risen over 100% in the past year, reflecting growing interest in Bitcoin-focused companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin miner MARA Holdings\u00a0has completed its $1 billion private offering, with some of the profits slated to be used to buy more BTC. Bitcoin mining company Marathon Digital Holdings (MARA) has raised nearly $1 billion by selling convertible notes. The company plans to use part of the proceeds to purchase additional Bitcoin (BTC), though the […]<\/p>\n","protected":false},"author":56,"featured_media":100334,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,8762,21308,8700],"class_list":["post-100314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-miner-2","tag-mara","tag-marathon-digital"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/MARA-Holdings-Secures-1B-To-Buy-More-Bitcoin.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/100314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=100314"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/100314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/100334"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=100314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=100314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=100314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}