In what seems to be a race to get as much Bitcoin (BTC) as possible, Mining companies are not only dedicated to mining this crypto asset, but are also beginning to employ strategies to buy BTC and thus build your store of value with the currency created by Satoshi Nakamoto.
Such is the case of MARA Digital Holdings (MARA), the Bitcoin mining with the largest market capitalization in the world, with a figure close to 9 billion dollars.
On November 27, 2024, the American company MARA announced the acquisition of 703 BTC. This purchase was part of a larger operation, which added a total of 6,474 BTC to your treasury, from November 22, 2024.
According to the company, the average purchase price was approximately $95,000 per bitcoin, which implied a total outlay of $615 million.
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In addition, MARA stated that its bitcoin holdings now reach 34,794 BTCwhich is equivalent to around 3.3 billion dollars at the time of this writing.
MARA follows the strategy of Michael Saylor and his MicroStrategy
MARA Holdings has adopted a strategy similar to that used by Michael Saylor and his company MicroStrategy to accumulate large amounts of bitcoin.
The mining company achieved the purchase of the 6,474 announced on November 27 through the issuance of convertible notes for a value of 1,000 million dollars at an interest rate of 0%, a financial instrument that allows you to access capital without resorting to traditional financing sources.
Convertible notes are debt securities that offer investors the ability to convert that debt into company stock at a future date, usually at a preset price.
This financing model combines characteristics of debt and equity, allowing the company to obtain immediate liquidity in exchange for a possible increase in investors’ shareholding.
This strategy aims to strengthen your treasury with a bitcoin-based store of value and protect against fiat currency inflation.
For his part, Michael Saylor has used this same strategy consistently to finance the massive bitcoin purchase by MicroStrategy.
Saylor places so much value on bitcoin that he has now led MicroStrategy to become the publicly traded company with higher BTC holdingsadding a total of almost 400,000 bitcoin, as reported CriptoNoticias recently.
Following this strategy, MARA accumulates Bitcoin as a key component of its balance sheet, positioning itself as the second institution with the largest holdings of BTC.
In third place, another of the largest bitcoin mining companies in the world appears, Riot Platforms, with almost 11,000 BTC, according to data from Bitcoin Treasuries.
The more reserves in bitcoin, the more company shares rise
MARA also reported in its recent statement that the return on bitcoin per share (BTC Yield Per Share) accumulated so far this year (YTD, Year-to-Date) is 36.7%.
This indicator reflects the increase in bitcoin production attributed to each company share, a result of the strategic accumulation of BTC as part of its store of value.
By increasing its treasury in BTC and improving its mining efficiency, the company seeks not only to maximize its exposure to the digital asset, but also to position itself as a benchmark in the institutional adoption of bitcoin, an asset that they consider a superior reserve of value against inflation. of fiat currencies.
Thus, MARA continues to increase its reserves of value in bitcoin, in what appears to be a race to protect its capital through the accumulation of BTC.
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