MARA Holdings, the largest publicly traded mining company, acquired 6,474 BTC for approximately $618 million after issuing $1 billion in convertible bonds. The average purchase price was $95,395 per coin.
The company’s total Bitcoin reserves now stand at 34,794 BTC, valued at around $3.3 billion. Since the beginning of the year, the company’s earnings per share have grown by 36.7%.
Out of the raised funds, $200 million was used to repurchase bonds maturing in 2026.
“Approximately $160 million, after transaction costs, remains available for future BTC purchases during price dips,” the company stated.
On November 18, MARA announced a private placement of convertible bonds with a 0% coupon and a 42.5% premium to the weighted average price of the shares, totaling $700 million. Due to oversubscription and additional options for initial investors, the amount was increased to $1 billion.
Following the announcement of the 6,474 BTC purchase, MARA’s stock price rose by 7.81% during the trading session on November 27, reaching $26.92. The company’s market capitalization surpassed $8.66 billion.
Year-to-date, the stock price has grown by 14.6%, while the price of Bitcoin has risen by about 130%.
