Marathon Digital (NASDAQ: MARA) has significantly expanded its Bitcoin reserves, bringing its total holdings to 40,435 BTC, valued at a shade under $4 billion based on the current Bitcoin price of $98,700. The company increased its reserves by over 50% this quarter through strategic acquisitions and is now the second-largest corporate Bitcoin holder globally, following MicroStrategy (NASDAQ: MSTR).
On December 10, Marathon Digital filed a report with the U.S. Securities and Exchange Commission (SEC) regarding its recent purchase of 11,774 BTC. This acquisition was valued at approximately $1.1 billion, highlighting the company's aggressive strategy in bolstering its cryptocurrency portfolio. Earlier in the month, an additional acquisition of 6,484 BTC for $618 million was reported, further contributing to the substantial increase in their reserves.
This rapid accumulation of Bitcoin has positioned Marathon Digital as a major player in the crypto market. The company's total Bitcoin reserve now stands significantly higher than many other public entities, confirming its commitment to investing heavily in digital assets.
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Marathon Digital's investment strategy seems to be paying off, as evidenced by the reported Bitcoin yield. The company achieved a quarterly yield of 12.3% and an annual yield of 47.6% as of December 9, indicating strong profitability from its Bitcoin holdings.
The market responded positively to Marathon Digital's increased Bitcoin holdings, with the company's stock (MARA) experiencing a rise of more than 2% in early trading, reaching a price of $24.18. This increase reflects investor confidence in Marathon Digital's strategic direction and its role in the cryptocurrency sector.
Marathon Digital's recent Bitcoin acquisitions underscore its aggressive approach to increasing cryptocurrency assets, positioning itself as a leading corporate Bitcoin holder. This move not only enhances its balance sheet but also solidifies its standing in a rapidly growing market.
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