Bitcoin

Genius

Yield

<p class="is-style-lead">U.S. Bitcoin miner Marathon Digital Holdings has spent approximately $67 million on its latest Bitcoin purchase, following a $1 billion convertible note sale with a 0% interest rate.</p> 
<p>According to a post on X by MARA Holdings, the Florida-based Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) startup has increased its BTC portfolio to 34,794 tokens, valued at approximately $3.3 billion based on a spot price of $95,000. At the time of writing on Nov. 27, BTC was trading at $96,400.</p> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1113" height="653" src="https://crypto.news/app/uploads/2024/11/BTCUSDT_2024-11-27_21-56-19.png" alt="Mara’s Bitcoin top-up readjusts total to $3.3b - 12" class="wp-image-14314532">
 <figcaption class="wp-element-caption">
  24-hour BTC price chart – Nov. 24 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
<p>Marathon Digital <a href="https://x.com/MARAHoldings/status/1861848253362274469" target="_blank" rel="nofollow">disclosed</a> that it had executed note buybacks worth $200 million and retained $160 million in capital for additional Bitcoin purchases. The company hinted at employing a “buy the dip” strategy. Mara also updated its year-to-date BTC yield to a 36.7% increase, using a metric that measures the growth of BTC holdings relative to share dilution.</p> 
<p>The use of BTC yield as a performance indicator has gained traction among corporate Bitcoin holders, particularly after convertible note offerings. MicroStrategy pioneered this trend over four years of Bitcoin acquisitions, <a href="https://crypto.news/microstrategys-bitcoin-plan-gobbles-another-5-4b/" target="_blank">financed</a> partly through stock and note sales.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">With our 0% $1 billion convertible notes offering, we are excited to share an update:<br><br>– Acquired an additional 703 BTC, bringing the total to 6,474 BTC, at an average price of $95,395 per BTC<br>– YTD BTC Yield Per Share 36.7%<br>– Total owned BTC: ~34,794 BTC, currently valued at… <a rel="nofollow" href="https://t.co/bzbunlyBRN" target="_blank">pic.twitter.com/bzbunlyBRN</a></p>— MARA (@MARAHoldings) <a href="https://twitter.com/MARAHoldings/status/1861848253362274469?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 27, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a rel="" href="https://crypto.news/marathon-digital-urges-us-to-adopt-bitcoin-reserve-in-open-letter/"> News Marathon Digital urges US to adopt Bitcoin reserve in open letter </a> </p> 
<p>Other companies have <a href="https://crypto.news/semler-scientific-put-another-30m-in-bitcoin-boosts-atm-offering-to-100m/" target="_blank">adopted</a> the process, announcing individual BTC reserves and Treasuries. Firms like Semler Scientific in the medical sector, artificial intelligence developer Genius Group, and Tokyo behemoth Metaplanet.</p> 
<p>Countries and governments also raced to create national strategic BTC stockpiles. U.S. Senator Cynthia Lummis <a rel="" href="https://crypto.news/senator-lummis-u-s-is-going-to-build-a-strategic-btc-reserve/">proposed</a> buying 4% of the total 21 million token supply. Brazil’s Chamber of Deputies <a href="https://crypto.news/bitcoin-reserve-bill-introduced-in-brazils-congress/" target="_blank">pitched</a> a BTC reverse to cushion financial risks.</p> 
<p>States also flocked to the idea, potentially planning to front-run federal administrations. Pennsylvania tabled its BTC reserve framework as it <a href="https://crypto.news/pennsylvania-introduces-bill-to-implement-strategic-bitcoin-reserve/" target="_blank">passed</a> a Bitcoin Rights bill following President Donald Trump’s imminent return to the White House.</p> 
<p>In Canada, Vancouver Mayor Ken Sim has put forward a motion to preserve the city’s purchasing power through BTC-friendly policies, including establishing a Bitcoin reserve.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/BitcoinMagazine/status/1861854071755321517 
 </div>
</figure> 
<p> Read more: <a rel="" href="https://crypto.news/chinese-sos-ltd-to-buy-bitcoin-worth-50m-for-reserve/"> Chinese SOS Ltd to buy Bitcoin worth $50m for reserve </a> </p>

Mara’s Bitcoin top-up readjusts total to $3.3b

crypto.news

Other articles published on Nov 27, 2024

Massive Crypto Boom Ahead! This Memecoin Is Poised to Surpass Dogecoin and PEPE With 8,000% Growth

Crypto Market on Edge: Top Gainers and Losers of the Day

Cypher Capital Invests in Kernel's Restaking Infrastructure (27 Nov)

China’s SOS Limited to Invest $50 Million in Bitcoin

Best New Meme Coin Presales in December 2024: Why BTFD Coin, Shiba Inu, and Baby Doge Coin Deserv...

Duke from Neptune Launches $DUKE Token to Dominate the Meme Coin Galaxy

Join our free newsletter for daily crypto updates!