“MARA Holdings, the largest publicly traded mining company, acquired 6,474 BTC for ~$618M following a $1B convertible bond offering. With our 0% $1 billion convertible notes offering, we are excited to share an update: – Acquired an additional 703 BTC, bringing the total to 6,474 BTC, at an average price of $95,395 per BTC– YTD BTC Yield Per Share […]”, — write: businessua.com.ua
MARA Holdings, the largest publicly traded mining company, acquired 6,474 BTC for ~$618M following a $1B convertible bond offering.
With our 0% $1 billion convertible notes offering, we are excited to share an update:
– Acquired an additional 703 BTC, bringing the total to 6,474 BTC, at an average price of $95,395 per BTC
– YTD BTC Yield Per Share 36.7%
– Total owned BTC: ~34,794 BTC, currently valued at… pic.twitter.com/bzbunlyBRN— MARA (@MARAHoldings) November 27, 2024
The average purchase price was $95,395 per coin.
The firm’s bitcoin reserves reached 34,794 BTC worth about $3.3 billion. Year-to-date, digital gold has returned 36.7% per share.
From the raised amount, $200 million was used by MARA to buy bonds maturing in 2026.
“The remaining ~$160M net of transaction costs is available for future BTC purchases on the dip,” the company said.
On November 18, MARA announced a private placement of convertible bonds with a coupon of 0% and a premium of 42.5% at a weighted average share price of $700 million. Thanks to oversubscriptions and an additional option for initial buyers, the amount increased to $1 billion.
0% coupon with a 42.5% premium – highest premium % for a 0% coupon since 2021. Oversubscribed and upsized up to a total of $1 billion. @MARAHoldings https://t.co/pnPVYBloS9
— Salman Khan (@theRealSalKhan) November 19, 2024
Quotations of the company against the background of the announcement of the purchase of 6,474 BTC increased in price during the trading session on November 27 by 7.81% and reached $26.92. MARA’s capitalization exceeded $8.66 billion.
Source: Yahoo Finance.
The stock is up 14.6% year-to-date, while digital gold has added about 130%.
We will remind, in October, Matrixport analysts indicated the potential for growth of miners’ quotations in view of the stabilization of the decrease in income and lagging behind the dynamics of Bitcoin.
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