Bitcoin miner MARA Holdings has announced a substantial expansion of its cryptocurrency portfolio. The company has purchased an additional 5,771 Bitcoin, investing a total of $572 million in this acquisition. The purchase was made at an average price of $95,554 per Bitcoin.
This strategic investment reflects MARA Holdings' confidence in the growing value of Bitcoin, which is nearing the $100,000 mark. The company leveraged a 0% convertible note offering to finance this acquisition, which has resulted in a 35% yield on Bitcoin per share.
MARA Holdings' latest acquisition strengthens its position in the cryptocurrency market, emphasizing its commitment to maximizing returns for its stakeholders by actively increasing its Bitcoin assets.