In recent months, more and more companies have embarked on the creation of a strategic reserve of Bitcoin (BTC). This is the case of MARA Holdings which, confident, did not hesitate to raise funds to acquire as much BTC as possible.
MARA Holdings now holds nearly $4 billion worth of Bitcoins
At the end of November, MARA Holdingsa company specializing in cryptocurrency mining, announced that it had obtained for almost a billion dollars via an issue of interest-free convertible notes. In raising this amount, his objective was clear: strengthen its strategic reserve of Bitcoins (BTC) which she decided to create in July.
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On X, the company explains that it did not hesitate to buy a significant quantity of Bitcoins :
With the proceeds from its issuance of interest-free convertible notes, MARA Holdings acquired 11,774 BTC for around $1.1 billion at around $96,000 per Bitcoin and achieved a BTC yield of 12.3% over the last quarter and 47.6% over the whole year. As of December 9, 2024, we hold 40,435 BTCcurrently rated at $3.9 billion based on a unit price set at $96,500.
Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 11,774 BTC for ~$1.1 billion at ~$96,000 per #bitcoin and has achieved BTC Yield of 12.3% QTD and 47.6% YTD. As of 12/9/2024, we hold 40,435 BTC, currently valued at $3.9 billion based on a… pic.twitter.com/2uvnrhbxaP
— MARA (@MARAHoldings) December 10, 2024
Just like the American MicroStrategy or more recently Japanese Metaplanetmany companies have launched in the creation of a strategic reserve of Bitcoins. Among the most recent examples, we find the French The Blockchain Group, or the video sharing company Rumble. They plan to spend several million dollars to acquire BTC.
The objective of this economic strategy is clear: capitalize on the good shape of Bitcoin (BTC) in order to reap profits and be able to remedy possible financial difficulties.
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In less than a year, the company doubles its hashrate and aims to go further
Alongside this purchase of Bitcoins, MARA took the opportunity to announce that it had succeeded to double its hashrate in 2024. Thus, the company specializing in crypto mining has achieved the objective it set at the start of the year, namely to achieve 50 exa hashes per second (EH/s).
The result is all the more impressive when we know that at the end of September, MARA's hashrate was 36.9 PE/s. This therefore means that the group has managed to increase its hashrate by 36% in just over 2 months. To give you an idea, 50 EH/s represents 6% of the overall average hashrate of the Bitcoin networkwhich constitutes a very satisfactory result for MARA.
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“ Mission accomplished… but why stop there? » took the liberty of publishing Fred Thiel, the CEO of the company, suggesting that MARA's hashrate could continue to increase in the future. “ Stay tuned, because we have other minors in reserve and we will continue to add more using our existing capacity, »added the manager of the firm.
Mission accomplished… but why stop here? Stay tuned as we have more miners on the shelf and we will just keep on adding using our existing capacity
— Fred Thiel (@fgthiel) December 10, 2024
Despite the announcement of these 2 news, MARA's actions fell 4.4%reaching the price of $22.81 at the end of the trading day on December 10.
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Investments in cryptocurrencies are risky. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your capacity to lose part of this savings. Do not invest if you are not prepared to lose all or part of your capital
Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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