Bitcoin

Billion

Mining company MARA, formerly known as Marathon Digital, has bolstered its Bitcoin reserves with the acquisition of 6,474 BTC, following a successful <a href="https://thecoinrise.com/marathon-digital-bags-1b-in-senior-notes-to-boost-bitcoin-bet/" rel="noopener noreferrer nofollow">$1 billion convertible note offering</a>. In its November 27 update to investors, MARA <a href="https://x.com/MARAHoldings/status/1861848253362274469" rel="noopener noreferrer nofollow">revealed</a> that the purchase was executed in two phases: an initial buy of 5,771 BTC at an average price of $95,395 per coin, followed by an additional 703 BTC acquisition.
The company’s Bitcoin treasury now stands at 34,797 BTC, valued at approximately $3.3 billion. Year-to-date, MARA’s per-share yield on Bitcoin is an impressive 36.7%, highlighting its strategic positioning in the evolving digital asset landscape.
Beyond Bitcoin acquisitions, MARA has also repurchased a portion of its 2026 notes for $200 million, leaving roughly $160 million from its convertible debt raise. The remaining funds will be deployed to <a href="https://thecoinrise.com/bitcoin-miners-july-btc-production-snapshot-marathon-leads-the-pack/" rel="noopener noreferrer nofollow">acquire Bitcoin during price dips</a>, reflecting a commitment to leveraging market volatility.
<h2 id="span-style-font-weight-400-a-familiar-playbook-corporate-debt-for-btc-span">A Familiar Playbook: Corporate Debt for BTC</h2>
MARA’s approach mirrors the strategy employed by MicroStrategy, a corporate pioneer in Bitcoin acquisition through debt financing. <a href="https://thecoinrise.com/microstrategy-bolsters-bitcoin-holdings-with-new-155m-purchase/" rel="noopener noreferrer nofollow">MicroStrategy, which began amassing Bitcoin in 2020</a>, has used similar methods, including a $3 billion senior convertible note issue at 0% interest.
MicroStrategy’s latest spree saw the acquisition of 55,000 BTC between Nov. 18 and 24 at an average price of $97,862 per BTC, boosting its total holdings to a staggering 386,700 BTC. This makes MicroStrategy one of the largest corporate holders of the cryptocurrency.
MARA’s $1 billion debt offering is part of its ambitious “21/21 Plan,” targeting $42 billion in funding over three years to secure additional Bitcoin and fortify its balance sheet.
<h2 id="span-style-font-weight-400-risks-and-criticism-loom-span">Risks and Criticism Loom</h2>
While such aggressive strategies have attracted investor attention, they also invite scrutiny. Critics argue that using fiat-denominated debt to buy Bitcoin is inherently risky, particularly in volatile markets. MicroStrategy has faced similar skepticism, with its stock price plunging by 25% on Nov. 21 despite its growing Bitcoin portfolio.
MARA’s approach, like MicroStrategy’s, could encounter significant financial strain if Bitcoin’s value experiences a sharp decline. However, with repayment obligations deferred until 2028, MARA has time to weather market fluctuations and potentially capitalize on Bitcoin’s long-term trajectory.
The post <a href="https://thecoinrise.com/mara-expands-bitcoin-holdings-with-1-billion-debt-strategy/" rel="noopener noreferrer nofollow">MARA Expands Bitcoin Holdings with $1 Billion Debt Strategy</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

MARA Expands Bitcoin Holdings with $1 Billion Debt Strategy

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