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In summary
- MARA purchased 11,774 BTC for $1.1 billion, paying an average of $96,000 per coin.
- MARA holdings now reach 40,435 BTC, valued at $3.9 billion at the current price.
- MARA is the second largest public holder of Bitcoin, behind MicroStrategy with 423,650 coins.
Public companies continue to buy large amounts of Bitcoin near the peak.
Leading Bitcoin miner MARA, formerly known as Marathon Digital, announced on Tuesday that it had acquired 11,774 Bitcoin for $1.1 billion, at an average price of $96,000 per coin.
Bitcoin hit an all-time high last week of $103,607 after crossing the long-anticipated $100,000 mark. However, it has cooled off in the last day, currently sitting at a price of around $96,300 at the time of writing, after recovering from a price below $95,000.
MARA—which trades on the Nasdaq under the same ticker—reported in a filing with the U.S. Securities and Exchange Commission (SEC) that it now owns 40,435 Bitcoin. At current prices, the company’s holdings are worth nearly $3.9 billion.
MARA shares are down nearly 4% so far today, trading at about $23. In a six-month period, it is up 18%.
The miner is following in the footsteps of software company MicroStrategy, raising money through private offerings to buy Bitcoin.
MARA is the second largest public holder of Bitcoin after MicroStrategy—holding more than 10 times the amount of Bitcoin: a total of 423,650 coins valued at more than $40 billion.
The company is dedicated to creating new currencies: Bitcoin miners work to process transactions on the Blockchain so people can send value across the crypto network.
Miners—who are typically large industrial operators that use a lot of electricity—are rewarded with Bitcoin for their work.
Edited by Andrew Hayward
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