Key Points

• MARA Holdings bought an additional 703 BTC this month, worth over $67 million.
• The company also bought back a portion of 2026 notes for $200 million.

MARA Holdings, bought 6,474 Bitcoin this month, worth over $617 million after it raised $1 billion via convertible notes. MARA is the largest publicly traded BTC miner.

MARA Holdings Boosts Its BTC Reserves

In a post on X dated November 27, MARA Holdings announced that following their $1 billion convertible notes offering, it raised its Bitcoin holdings.

The company bought 703 Bitcoins, bringing the total to 6,474 BTC at an average price of $95,395 per coin this month. This means that this month alone, MARA has acquired more than $617 million in BTC.

Also, the latest BTC purchase brings the total BTC holdings of the company to 34,794 BTC currently valued at around $3.3 billion, based on a spot BTC price of $95,000, according to the official announcement made via X.

MARA also revealed that the YTD BTC Yield Per Share is currently 36.7%.

Also, the company bought back a portion of 2026 notes for $200 million, and it still has $160 million in remaining proceeds available net of transaction costs for future BTC dip purchases.

The latest 703 BTC purchase comes following a November 22 announcement in which MARA revealed the acquisition of 5,771 BTC at an average of $95,554 per BTC.

MARA’s BTC Strategy Boosts Shares

Today MARA Holdings’s stock is priced at $26.92, up by almost 8%. Stocks are up by over 17% year to date, according to official data.

MARA’s Bitcoin acquisition strategy mirrors another company’s move – MicroStrategy. The firm started acquiring BTC in 2020, and we recently reported that the company expanded its BTC holdings this week with a $5.4 billion purchase.

MARA’s chairman and CEO, Fred Thiel, recently shared a positive outlook on Bitcoin, during the Bitcoin 2024 conference, suggesting that the crypto industry will thrive under a Trump administration, highlighting favorable energy policies that could support BTC mining operations.

Trump’s presidential inauguration is set to take place on January 20, 2025, and the industry foresees important positive upcoming changes.

At the moment of writing this article, BTC is trading above $95,000, boosted by optimism in the industry and Fed policy with more potential interest rate cuts on the way.