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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Bitcoin Miner MARA Buys Another 703 BTC, Increases Total Holdings To 34,794 BTC

Ash Tiwari
Ash Tiwari
5 months ago
3 mins read
bitcoin

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Este artículo también está disponible en español.

Bitcoin mining firm MARA – formerly known as Marathon Digital – has announced the acquisition of an additional 703 BTC. This purchase increases the company’s total cryptocurrency holdings to 34,794 BTC.

MARA’s Bitcoin Holdings Surge To 34,794 As CEO Shares Bullish Outlook

In an announcement made yesterday on X, MARA, one of the world’s leading Bitcoin mining companies, revealed it had acquired 703 BTC at an average price of $95,395. This brings the firm’s total Bitcoin purchases for November to 6,474 BTC, following last week’s acquisition of 5,771 BTC.

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The latest purchase has increased the firm’s total digital asset holdings to 34,794 BTC, valued at approximately $3.3 billion at current market prices. Additionally, the firm disclosed that its year-to-date (YTD) BTC yield per share stands at 36.7%.

Earlier this month, MARA raised $1 billion by issuing 0% convertible senior notes due in 2030. A portion of the $200 million funds was used to buy back some of its 2026 notes. The firm has also reserved $160 million from the proceeds, intending to deploy it for future Bitcoin purchases if market prices become favorable.

As reported yesterday, MARA CEO Fred Thiel – in an interview with CNBC – remarked that more institutional investors are interested in BTC, hoping that a Donald Trump administration will bring about favorable cryptocurrency regulations in the US.

MARA stock closed at $26.92 on November 27, recording an increase of 7.81% for the day. In the last six months, the share price has increased by 26.92%, coinciding with rising optimism toward digital assets as market sentiment improves with changes in government administration.

MARA stock
MARA stock has surged almost 27% in the past six months | Source: Yahoo! Finance

Corporate Moves Could Push Bitcoin Beyond $100,000

MARA’s aggressive Bitcoin acquisition strategy mirrors that of MicroStrategy, which has the largest Bitcoin holdings globally. Under Michael Saylor’s leadership, MicroStrategy has spent billions on Bitcoin purchases this month, totaling $4.6 billion and $5.4 billion in back-to-back weeks.

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Bitcoin Soars Past $82,500 As MicroStrategy Makes Major 27,200 BTC Purchase

6 months ago

As President-elect Trump’s January 20th inauguration date approaches, many corporations worldwide are warming up to adding BTC to their balance sheets. Most recently, Canada-based online video-sharing platform Rumble earmarked $20 million for future BTC purchases. Similarly, Japanese early-stage investment firm Metaplanet’s total BTC holdings recently crossed 1,000 BTC.

The race for amassing as much BTC as possible has sparked some enthusiasm among crypto analysts who foresee the digital asset breaching the $100,000 milestone early next year. BTC trades at $95,615 at press time, up 1% in the past 24 hours.

bitcoin
BTC trades at $95,615 on the 4-hour chart as it recovers from a price pullback witnessed earlier this week | Source: BTCUSDT on TradingView.com
Featured image from Unsplash, charts from Yahoo! Finance and Tradingview.com
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Ash Tiwari
Ash Tiwari

Ash Tiwari

Ash is a dedicated crypto researcher and blockchain enthusiast with a passion for diving deep into the evolving world of decentralized technologies. With a background in writing and a natural curiosity for how digital assets are shaping the future, he has immersed himself in various sectors of the cryptocurrency space, including decentralized finance (DeFi), NFTs, and liquidity mining. His journey into crypto started with a desire to fully understand the technology behind it, leading him to explore and engage with these systems firsthand.

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Ash’s approach to DeFi goes beyond surface-level research as he actively participates in decentralized protocols, testing their functionality to gain a deeper understanding of how they operate. From experimenting with staking mechanisms to exploring liquidity mining strategies, he is hands-on in his exploration, which allows him to provide practical, real-world insights that go far beyond theoretical knowledge. This immersive experience has helped him develop a comprehensive grasp of smart contracts, token governance, and the broader implications of decentralized platforms on the future of finance.

In the NFT space, Ash’s interest is driven by the technology’s potential to reshape ownership and creativity in the digital age. He has explored various NFT projects, gaining insights into how these digital assets function within different ecosystems. His focus is on understanding the evolving relationship between creators and communities, as well as the innovative uses of blockchain technology to establish authenticity and provenance in the digital world. Ash’s research in this area often touches on the intersection of culture, technology, and community-driven projects.

A key area of his expertise lies in liquidity mining, where he has engaged with various decentralized platforms to understand how liquidity provision contributes to the functionality and security of DeFi ecosystems. Ash’s hands-on involvement has allowed him to analyze the risks, rewards, and broader implications of liquidity pools, giving him a well-rounded perspective on this integral part of DeFi. His understanding of risk management and protocol design allows him to provide insights into how these systems can be navigated effectively, with an emphasis on both opportunity and caution.

When it comes to communicating these complex topics, Ash’s writing is grounded in clarity and depth. He excels at breaking down intricate blockchain concepts into easily digestible information for a wide audience. Whether explaining the workings of decentralized exchanges or outlining the future potential of blockchain technology, Ash ensures that his content is accessible to both those new to the space and experienced participants looking for deeper insights.

Beyond DeFi and NFTs, Ash explores a wide array of emerging blockchain applications. His research spans areas like cross-chain technologies, decentralized governance, and blockchain’s potential to integrate with traditional finance. He is continuously learning and adapting to the latest developments, ensuring that his insights are both timely and relevant. His interest extends to how these technologies are creating new possibilities for decentralization, transparency, and trust in a variety of industries.

Ash’s commitment to engaging with the crypto space firsthand gives him a unique perspective that goes beyond what can be learned from research alone. His practical involvement allows him to stay ahead of the curve, offering readers and enthusiasts a clear and comprehensive understanding of the rapidly evolving world of blockchain. Whether delving into the technical mechanics of DeFi or exploring the cultural impact of NFTs, Ash’s approach is always rooted in curiosity, research, and a desire to make this technology accessible to all.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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