MARA Holdings shared updates about its Bitcoin reserves. In a filing with the SEC, MARA said it made $1.925 billion by selling zero-coupon convertible notes in November and December 2024.
MARA invested the sales turnover and purchased 15,574 Bitcoins for slightly above 1.53 billion dollars. The Bitcoins were bought at an average cost of 98,529 dollars each.
As a result, MARA’s total Bitcoin amount now equals 44,394 worth 4.45 Billion dollars based on average current price in the market as of today at $100,151.
Additionally, MARA also bought back about 263 million dollars worth of principal amount of its existing Convertible Note due in 2026. The company said it plans to spend the remaining proceeds from the sale of convertible notes to buy more bitcoins. The company’s total Bitcoin reserves now make it the publicly traded company with the largest Bitcoin holdings.
In the filing, MARA stated that its Bitcoin purchases were financed through the proceeds of the zero-coupon convertible notes offering.
It also shared its Bitcoin yield, showing how much its Bitcoin holdings have changed compared to its total shares. The Bitcoin yield for the company was 22.5% for the current quarter and 60.9% for the current year.
Meanwhile, this new purchase was made at a time when the crypto market was full of volatilities. Yesterday, Jerome Powell said that the central bank would never own Bitcoin and this resulted in a wide selloff in the market. Even so, MARA went ahead to make a purchase, apparently following the plan like big investors in Bitcoin, MicroStrategy.
As of December 18, 2024, MARA’s Bitcoin holdings amount to 44,394 BTC with a total value of $4.45 billion. The company said it would keep buying Bitcoin throughout next year.
Also Read: MicroStrategy Buys 21,550 Bitcoin for $2.1 billion
