Marathon Digital has bolstered its Bitcoin reserves by over 50% this quarter with the addition of 11,774 BTC, worth about $1.1 billion, according to a Dec. 10 filing with the US Securities and Exchange Commission (SEC).
This purchase follows another from earlier this month when the firm obtained 6,484 BTC for $618 million. Combined, these transactions have increased Marathon’s total Bitcoin holdings to 40,435 BTC, now valued at $3.9 billion based on the current spot price of $96,500.
With this accumulation, Marathon is the second-largest corporate Bitcoin holder, standing only behind industry leader MicroStrategy.
MicroStrategy, known for its substantial Bitcoin investments under Michael Saylor’s leadership, holds over 420,000 BTC, amounting to over 2% of Bitcoin’s total supply. Marathon’s strategy reflects a similar commitment to building a significant presence in the Bitcoin market.
Operationally, Marathon has reported strong results, with a quarter-to-date Bitcoin yield of 12.3% and a year-to-date yield of 47.6% as of Dec. 9.
Meanwhile, the market has responded favorably to these achievements, with Marathon’s stock (MARA) climbing over 2% in early trading, reaching $24.18 as of press time, according to Yahoo Finance.
The post Marathon Digital boosts Bitcoin reserves by over 50% this quarter, nears $4 billion in holdings appeared first on CryptoSlate.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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