Key Points
- Marathon Digital Holdings has invested $67 million in Bitcoin after a $1 billion convertible note sale.
- The company’s Bitcoin portfolio now includes 34,794 tokens, valued at around $3.3 billion.
Marathon Digital Holdings, a Bitcoin miner based in the U.S., has invested around $67 million in Bitcoin following a $1 billion convertible note sale with no interest.
Portfolio Expansion
According to MARA Holdings, the Florida-based Bitcoin startup has expanded its Bitcoin portfolio to 34,794 tokens. At a spot price of $95,000, this portfolio is worth approximately $3.3 billion. As of November 27, Bitcoin was trading at $96,400.
Marathon Digital revealed that it conducted note buybacks worth $200 million and retained $160 million in capital for additional Bitcoin purchases. The company hinted at using a “buy the dip” strategy. Additionally, Marathon updated its year-to-date Bitcoin yield to a 36.7% increase, a metric that measures Bitcoin holdings growth relative to share dilution.
Corporate Bitcoin Holdings
The use of Bitcoin yield as a performance indicator has become popular among corporate Bitcoin holders, especially after convertible note offerings. This trend was started by MicroStrategy over four years of Bitcoin acquisitions, partially financed through stock and note sales.
Other businesses have adopted this approach, announcing individual Bitcoin reserves and treasuries. These include medical sector company Semler Scientific, artificial intelligence developer Genius Group, and Tokyo giant Metaplanet.
Countries and governments have also started to create national strategic Bitcoin stockpiles. U.S. Senator Cynthia Lummis proposed buying 4% of the total 21 million token supply. The Chamber of Deputies in Brazil suggested a Bitcoin reserve to mitigate financial risks.
States have shown interest in the idea, potentially planning to outpace federal administrations. Pennsylvania presented its Bitcoin reserve framework as it passed a Bitcoin Rights bill following President Donald Trump’s expected return to the White House.
In Canada, Vancouver Mayor Ken Sim proposed a motion to protect the city’s purchasing power through Bitcoin-friendly policies, including the establishment of a Bitcoin reserve.
