Bitcoin Miner MARA Buys Another 703 BTC, Increases Total Holdings To 34,794 BTC

MARA, a leading Bitcoin mining firm, has acquired an additional 703 BTC, increasing its total cryptocurrency holdings to 34,794 BTC. The purchase was made at an average price of $95,395, bringing the firm's total Bitcoin purchases for November to 6,474 BTC. MARA's total digital asset holdings are now valued at approximately $3.3 billion at current market prices. The firm's year-to-date BTC yield per share stands at 36.7%. Earlier this month, MARA raised $1 billion by issuing 0% convertible senior notes due in 2030. A portion of the funds was used to buy back some of its 2026 notes, and $160 million was reserved for future Bitcoin purchases if market prices become favorable. MARA CEO Fred Thiel expressed a bullish outlook, stating that more institutional investors are interested in BTC, hoping for favorable cryptocurrency regulations in the US. The firm's aggressive Bitcoin acquisition strategy is similar to that of MicroStrategy, which has the largest Bitcoin holdings globally. As corporations worldwide warm up to adding BTC to their balance sheets, crypto analysts foresee the digital asset breaching the $100,000 milestone early next year. BTC currently trades at $95,615, up 1% in the past 24 hours.