BlackRock, MARA, Semler Pile Into Bitcoin Amid Pullback to $90K

• Technology and financial firms continue to load up on Bitcoin as the digital asset has fallen from its new all-time high.
• Mara Holdings, BlackRock, and Semlar Scientific have been bolstering their Bitcoin holdings.
• BlackRock’s total Bitcoin holdings currently sit at $46.9 billion

BlackRock, Mara Holdings (MARA), and Semlar Scientific have flocked to buy more Bitcoin (BTC) as the world’s largest digital asset slid from $103,000 to $90,000.

The companies have recently bolstered their Bitcoin holdings and reported strong yields, underscoring their commitment to the digital asset.

MARA Buys More Bitcoin

MARA, previously Marathon Digital, acquired another 1,423 on Thursday, Dec. 5.

The move follows the Bitcoin miner closing its $850 million convertible note offering just the day before.

MARA estimates that the net proceeds from the sale of the notes will be approximately $835.1 million, or approximately $982.5 million, if initial purchasers exercise their full option.

The Bitcoin miner said it plans to use $48 million of the funds to repurchase approximately $51 million of its outstanding 2026 convertible notes.

MARA previously purchased 6,474 BTC for over $600 million at the end of November.

BlackRock

At the same time, investment giant BlackRock bought 7,750 Bitcoin as its spot Bitcoin exchange-traded fund (ETF) continued to be purchased from buyers.

The company’s total Bitcoin holdings currently sits at $46.9 billion, according to Arkham data .

As per SoSoValue, the asset manager’s IBIT BTC ETF had $51 billion in assets under management (AUM).

Thomas Fahrer, founder of crypto stats firm Apollo, posted on X: “Fastest growing ETF EVER.”

BlackRock’s iShares Bitcoin Trust (IBIT) overtook the company’s Gold Trust in net assets last week, with Bitcoin exceeding the gold’s ETF worth of $32 billion.

Semler Scientific

Semler Scientific (SMLR), a leader in developing technology solutions for healthcare providers addressing chronic diseases, said that, from Nov. 25 to Dec. 4, it acquired 303 bitcoins for $29.3 million, at an average price of $96,779 per bitcoin.

As of Dec. 4, 2024, the company held 1,873 bitcoins, with a total acquisition cost of $147.1 million at an average purchase price of $78,553 per bitcoin.

“We are very pleased to report BTC Yield of 78.7%,” said Eric Semler, chairman of Semler Scientific. “In addition, we have requested approval from the options exchanges to allow options trading in our stock as we believe we satisfy their eligibility requirements.”