Marathon Digital Holdings, a U.S. Bitcoin mining company, has invested around $67 million in its most recent Bitcoin acquisition, following a $1 billion offering of convertible notes with a 0% interest rate.
As announced in a post on X by MARA Holdings, this Florida-based Bitcoin (BTC) startup has expanded its BTC holdings to 34,794 tokens, which are currently valued at approximately $3.3 billion based on a spot price of $95,000. At the time of this writing on Nov. 27, BTC was priced at $96,400.
Marathon Digital revealed that it executed note buybacks totaling $200 million and held on to $160 million for further Bitcoin acquisitions. The company hinted at utilizing a “buy the dip” strategy. Additionally, Mara reported a year-to-date BTC yield increase of 36.7%, a metric that assesses BTC holdings growth in relation to share dilution.
The adoption of BTC yield as a performance metric has gained popularity among corporate Bitcoin investors, especially following convertible note offerings. MicroStrategy led this movement with over four years of Bitcoin accumulation, which was partly funded through stock and note sales.
Other businesses have embraced this practice, revealing their Bitcoin reserves and Treasuries. Companies like Semler Scientific from the medical field, Genius Group in AI development, and the Tokyo giant Metaplanet have followed suit.
Meanwhile, nations and governments are racing to establish national strategic Bitcoin reserves. U.S. Senator Cynthia Lummis proposed acquiring 4% of the total 21 million Bitcoin supply. Brazil’s Chamber of Deputies proposed creating a Bitcoin reserve to mitigate financial risks.
States are also exploring similar initiatives, potentially seeking to preempt federal government actions. Pennsylvania introduced a framework for its own Bitcoin reserve and passed a Bitcoin Rights bill in the wake of President Donald Trump’s anticipated return to office.
In Canada, Vancouver Mayor Ken Sim has proposed a motion to safeguard the city’s purchasing power with Bitcoin-friendly measures, including the establishment of a Bitcoin reserve.
