Major Bitcoin Purchase Boosts Marathon’s Holdings
Marathon Digital has acquired 6,484 BTC for $618 million, purchasing at an average price of $95,352 per Bitcoin. This move solidifies its position as the second-largest corporate Bitcoin holder.Corporate Expansion Through Bitcoin
The acquisition was part of Marathon’s broader strategy to enhance its Bitcoin treasury, supported by a $700 million fundraising initiative. The company also plans to use proceeds for debt repayment, working capital, and strategic acquisitions.Strong Market Reaction
Despite buying near Bitcoin’s peak, Marathon’s stock saw a 1.9% increase following the announcement. The company’s growing Bitcoin portfolio reinforces its long-term bullish stance on the cryptocurrency.
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