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Miner Marathon makes purchase of US$ 1 billion in Bitcoin
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THE Bitcoin mining company Marathon Holdingsannounced the purchase of 11,774 Bitcoin on Tuesday (10). According to the company, the acquisition cost US$1.1 billion and brought the company’s total cash to 40,435 BTC. However, the company’s shares are down 3.25%, at US$23.06.
With this purchase, Marathon consolidates itself as the company listed on the stock exchange with the second largest share in Bitcoin, behind only MicroStrategy. And interestingly, the two companies announced their BTC purchases less than 24 hours apart.
Marathon registered the new operation with the United States Securities and Exchange Commission, the SEC, confirming the acquisition of 11,774 BTC. According to the company, the operation was carried out with the profits from its convertible note offerings zero coupon code to make this purchase.
The company acquired these BTC at an average price of $96,000 per BTC and achieved a BTC yield of 12.3% QoQ and 47.6% YTD. raised $700 million in debt to acquire more BTC.
Marathon acquires 11,774 BTC for $1.1 billion
Michael Saylor also commented on Marathon’s announcement. Saylor retweeted the data about the mining company’s performance with BTC and was impressed. THE Marathon’s profitability is very close to that obtained by MicroStrategy.
Amid Bitcoin purchases from Marathon and MicroStrategy, the price of BTC remains stable, consolidating in this $97,000 region. Cryptocurrency analyst Ali Martinez warned that the bullish trend should only continue if BTC remains above $96,000.
If there is a pullback below this level, the price of Bitcoin could fall to US$85,000, repeating last year’s pattern. This is because while whales like MARA and MicroStrategy are adding to their positions, some are getting rid of their BTCwhich appears to be putting significant selling pressure on the market.
Martinez revealed that miners of Bitcoin sold 771 BTC in the last 24 hours. And the Bhutanese government also reported transferring $40 million worth of BTC to exchanges, although they still have 1,791 BTC remaining.
Miner Marathon makes purchase of US$ 1 billion in Bitcoin
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Miner Marathon makes purchase of US$ 1 billion in Bitcoin
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Miner Marathon makes purchase of US$ 1 billion in Bitcoin
