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Crypto miner Marathon Digital has spent more than $600 million to purchase Bitcoin in the last two months, according to a filing with the United States Securities and Exchange Commission.
In a Dec. 2 filing, MARA Holdings <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/1507605/000149315224048222/form8-k.htm" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a> it acquired 6,484 Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) between Oct. 1 and Nov. 30. The coins were purchased for $618.3 million in cash at an average price of $95,352 per BTC.&nbsp;
In addition, MARA Holdings <a data-ct-non-breakable="null" href="https://ir.mara.com/news-events/press-releases/detail/1380/mara-holdings-inc-announces-proposed-private-offering-of-700-million-of-zero-coupon-convertible-senior-notes" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a> in a press release that it intends to offer $700 million in convertible senior notes due 2031 in a private offering. The proceeds will be used to purchase more Bitcoin and repurchase existing convertible notes due in 2026.&nbsp;
<figure><img alt="MARA Holdings acquired over $600M Bitcoin in the last two months" src="https://s3.cointelegraph.com/uploads/2024-12/019387a7-e8a6-7252-bfbd-c4e34afebf7f" title="">
 <figcaption style="text-align: center;">
 MARA is the second-largest corporate Bitcoin holder. Source: BitcoinTreasuries
 </figcaption>
</figure>
MARA Holdings <a data-ct-non-breakable="null" href="https://companiesmarketcap.com/bitcoin-mining/largest-bitcoin-mining-companies-by-marketcap/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">remains</a> the largest publicly traded crypto mining company by market capitalization. According to the BitcoinTreasuries site, MARA Holdings is the second-largest corporate Bitcoin holder, next to MicroStrategy.&nbsp;
<h2 id="mara-urges-the-us-government-to-speed-up-bitcoin-accumulation">MARA urges the US government to speed up Bitcoin accumulation</h2>
On Nov. 26, MARA Holdings <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mara-holdings-wants-america-control-bitcoin-hashrate" rel="noopener noreferrer nofollow" target="null" text="null" title="null">urged the US to be more aggressive</a> in securing positions in Bitcoin and Bitcoin mining. The company claimed that there was an urgent need for the country to secure its economic and national security interests.&nbsp;
“The dollar is no longer directly backed by gold, yet holding substantial gold reserves remains a matter of national security,” MARA said. “These reserves provide the US with the ability to transact should foreign nations lose confidence in the dollar, the firm added.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-miner-mara-falls-after-hours-q3-revenue-miss" rel="noopener noreferrer nofollow" target="null" text="null" title="null">MARA Holdings falls 9% after-hours after Q3 revenue miss</a>
While US President-elect Donald Trump publicly <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/political-undertones-trump-bitcoin-2024-nashville" rel="noopener noreferrer nofollow" target="null" text="null" title="null">promised to add Bitcoin</a> to the US government Treasury reserve, some skeptics like Galaxy Digital CEO <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-strategic-reserve-low-probability-under-trump-mike-novogratz" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Mike Novogratz predicted</a> a “low probability” that Trump will establish a Bitcoin strategic reserve during his term.
<h2 id="mara-sold-63-of-mined-btc-in-may">MARA sold 63% of mined BTC in May</h2>
While actively pushing for Bitcoin accumulation and mining in the US, MARA sold some Bitcoin earlier this year.
Formerly operating as Marathon Digital Holdings, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/largest-bitcoin-mining-firm-sold-63-mined-btc-may" rel="noopener noreferrer nofollow" target="null" text="null" title="null">MARA sold 390 Bitcoin</a> or 63% of its monthly production of 616 BTC.
The sale came shortly after Bitcoin successfully went through its fourth halving event in April 2024, which reduced the mining block reward from <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-halving-2024-completion-confirmed" rel="noopener noreferrer nofollow" target="null" text="null" title="null">6.25 BTC to 3.125 BTC</a>.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-90k-forecast-crypto-trader-solana-etf-filings-hodlers-digest/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Is Bitcoin heading back to $90K? Solana ETFs, and more: Hodler’s Digest</a>
Additional reporting by Helen Partz.

MARA Holdings acquired over $600M Bitcoin in the last two months

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