Marathon Digital, a Bitcoin mining company, recently made a massive Bitcoin purchase, totaling over $270 million in just two days.
A Massive Bitcoin Acquisition
This huge buy followed a successful $850 million convertible note offering. The company used a significant portion of the funds to acquire Bitcoin. According to Lookonchain, a market intelligence firm, Marathon Digital first bought nearly $140 million worth of Bitcoin. The very next day, they purchased another $130 million worth, bringing the two-day total to over $270 million.
Marathon Digital’s Bitcoin Holdings
This recent purchase significantly boosts Marathon Digital’s Bitcoin holdings. According to Arkham Intelligence, their crypto wallet now holds approximately 19,965 BTC, currently valued at around $2 billion.
Marathon Digital’s History
Originally founded in 2010 under a different name, the company initially focused on encryption patents. They entered the Bitcoin mining space in 2017.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading around $100,100.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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