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A company that is changing the way the world mines bitcoin

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Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
BitcoinSistemi 2024-12-10 19:01:08

Another Company Other Than MicroStrategy Announces Massive Bitcoin Purchase

Another Company Other Than MicroStrategy Announces Massive Bitcoin Purchase

Bitcoin mining company Marathon Digital Holdings (MARA) announced that it purchased 11,774 BTC for approximately $1.1 billion. The purchase, financed through a zero-coupon convertible note offering, was made at an average price of $96,000 per BTC. As of December 9, 2024, MARA currently owns a total of 40,435 Bitcoins worth $3.9 billion based on a spot price of $96,500 per Bitcoin. The company recently revealed its performance by stating that Bitcoin return was 12.3% quarter-to-date (QTD) and 47.6% year-to-date (YTD). Related News: JPMorgan Analysts Publish New Report on Bitcoin and Cryptocurrencies However, this significant purchase has reignited debates about Bitcoin’s market stability, with prominent BTC critic Peter Schiff expressing his skepticism, saying: “In other words, Bitcoin is being artificially propped up via leveraged buyouts from MSTR and MARA due to insufficient real demand. This looks like a formula for disaster.” Recently, MicroStrategy also announced to its investors that it had purchased a large amount of BTC. As the company continues to grow, discussions are currently ongoing regarding the inclusion of MicroStrategy shares in Nasdaq. *This is not investment advice. Continue Reading: Another Company Other Than MicroStrategy Announces Massive Bitcoin Purchase

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Market Cap
24h Vol
54.28%
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659
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