Marathon Digital Boosts Bitcoin Reserves by 50%
Marathon Digital has significantly increased its Bitcoin holdings this quarter, acquiring 11,774 BTC worth approximately $1.1 billion, as disclosed in a filing with the US Securities and Exchange Commission (SEC) on Dec. 10.
Major Bitcoin Acquisitions
- Marathon purchased an additional 6,484 BTC earlier this month for $618 million.
- Combined, these transactions have boosted Marathon’s total Bitcoin reserves to 40,435 BTC, valued at $3.9 billion based on the current spot price of $96,500.
Position in the Market
Following these acquisitions, Marathon now stands as the second-largest corporate holder of Bitcoin, trailing behind industry leader MicroStrategy.
Comparison with MicroStrategy
- MicroStrategy holds over 420,000 BTC, which accounts for over 2% of Bitcoin’s total supply.
- Marathon’s accumulation strategy mirrors MicroStrategy’s commitment to establishing a significant presence in the Bitcoin market.
Operational Performance
Marathon has reported robust operational results, with a quarter-to-date Bitcoin yield of 12.3% and a year-to-date yield of 47.6% as of Dec. 9.
Market Response
Investors have responded positively to Marathon’s achievements, with the company’s stock (MARA) experiencing a more than 2% increase in early trading, reaching $24.18 at the time of publication, according to Yahoo Finance.
