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After completing a convertible note sale, Bitcoin miner Marathon Holdings has increased its total BTC holdings to $3.9 billion. 
Marathon Holdings bought 11,774 Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) for an estimated $1.1 billion at a spot price of approximately $96,000 per token, the Florida-based blockchain infrastructure firm <a href="https://x.com/MARAHoldings/status/1866467993183543461" target="_blank" rel="nofollow">announced</a> on Dec. 10. At $96,500 per token, Marathon Holdings’ total Bitcoin holdings were valued at nearly $4 billion. BTC was trading closer to $98,000 at press time following a liquidation flush on Monday, Dec. 9. 
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 24-hour BTC price chart – Dec. 10 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank">crypto.news</a>
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Marathon raised the capital for its Bitcoin purchase by offering convertible notes, a growing trend among companies building BTC treasuries. Investors buy these notes with cash and receive rights to company shares, while firms use the proceeds to acquire Bitcoin. 
This practice, popularized by MicroStrategy chairman Michael Saylor, has also introduced a new metric for measuring corporate Bitcoin purchase performance. The so-called “BTC Yield” tracks percentage changes in BTC holdings relative to outstanding diluted company shares. 
 You might also like: <a rel="" href="https://crypto.news/bitcoin-ethereum-whales-likely-to-trigger-retail-fomo-ahead-of-macro-events/"> Bitcoin, Ethereum whales likely to trigger retail FOMO ahead of macro events </a> 
Marathon disclosed a 12.3% quarter-to-date and 47.6% year-to-date BTC yield as of Dec. 9. Companies are also exploring BTC-based rewards for shareholders, creating a closer integration between cryptocurrency and corporate finance. 
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 Last week, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$MSTR</a>'s treasury operations delivered a BTC Yield of 3.3%, providing a net benefit of approximately 13,270 BTC to shareholders, or around 1,896 BTC per day. At $98K per BTC, this equates to $1.3 billion for the week, or $186 million per day.— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1866483774030012922?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 10, 2024</a>
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Meanwhile, BTC mining Competitor Riot Platforms <a href="https://crypto.news/riot-pads-bitcoin-trove-with-500m-note-sale/" target="_blank">plans</a> to purchase Bitcoin using proceeds from its $500 million convertible note sale. Saylor has praised both Marathon and Riot for adopting the Bitcoin Standard, highlighting a growing appetite for BTC among U.S.-based entities. 
MicroStrategy itself led this roster of companies exchanging share rights for BTC capital. Saylor’s firm has <a rel="" href="https://crypto.news/saylors-microstrategy-added-2-1b-in-bitcoin/">bought </a>over $25 billion worth of BTC since 2020, issuing securities and raising debt to foot the bill. MicroStrategy was also the largest private BTC holder, with over $40 billion in the digital asset. 
 Read more: <a rel="" href="https://crypto.news/bitcoin-etfs-log-479m-inflows-despite-btc-flash-crash-below-95k/"> News Bitcoin ETFs log $479m inflows despite BTC flash crash below $95k </a>

Marathon parks $1.1b in Bitcoin after note sale

crypto.news

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