Marathon Digital Holdings boosts its Bitcoin holdings. (Photo By: Manuel Romano/NurPhoto via Getty Images)
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Key Takeaways
MARA bought 11,774 Bitcoin with the proceeds of its zero-coupon convertible notes offerings.
The Bitcoin miner has achieved a yield of 47.6% since the beginning of 2024.
MARA remains the second-largest entity holding Bitcoin, just behind MicroStrategy.
MARA (formerly Marathon Digital), one of the largest publicly traded crypto mining companies, has further cemented its status as a leading Bitcoin (BTC) holder.
The company recently acquired 11,774 BTC, valued at approximately $1.1 billion, using proceeds from its zero-coupon convertible notes offering.
MARA Expands Bitcoin Holdings Amid Strong Performance Metrics
MARA’s latest acquisition aligns with a growing institutional trend of leveraging debt to expand BTC holdings.
It’s worth noting that this strategic focus on Bitcoin has delivered tangible results.
MARA’s Bitcoin yield—a metric reflecting the percentage change in the ratio between its BTC holdings and assumed fully diluted shares outstanding—stands at 12.3% quarter-to-date.
This performance underscores the company’s operational efficiency and ability to navigate the market effectively.
MARA achieved a Bitcoin yield of 12.3% quarter-to-date and a 47.6% yield year-to-date. | Credit: U.S. Securities and Exchange Commission
In addition to growing its Bitcoin reserves, MARA’s stock has shown resilience and upward momentum this year, signaling investor confidence in its long-term strategy.
Following the acquisition, MARA stock rebounded by 0.5% in after-hours trading to $22.92 per share.
Second-Largest Bitcoin Holder
As of Dec. 11, 2024, Marathon held 40,435 BTC, valued at approximately $3.9 billion.
MicroStrategy remains in pole position, holding over 423,650 BTC—about 2% of the total Bitcoin supply—with a value exceeding $41 billion.
Riot Platforms and Tesla follow, with holdings of 10,019 BTC and 9,720 BTC, respectively, underscoring their continued involvement in Bitcoin investments.
Company
Total BTC
Value
% Of Circulating Supply
MicroStrategy
423,650
$41,371,324,688
2.017%
Marathon Digital Holdings Inc
40,435
$3,948,659,303
0.193%
Riot Platforms, Inc.
10,019
$978,400,335
0.048%
Tesla, Inc.
9,720
$949,201,642
0.046%
CleanSpark Inc
9,297
$907,893,793
0.044%
Hut 8 Corp
9,109
$889,534,749
0.043%
Coinbase Global, Inc.
9,000
$878,890,410
0.043%
Block, Inc.
8,211
$801,841,017
0.039%
Galaxy Digital Holdings
8,100
$791,001,369
0.039%
Bitcoin Group SE
3,830
$374,016,696
0.018%
Together, the top ten entities control approximately 523,371 BTC, representing 2.5% of the total Bitcoin supply.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
