Nasdaq-listed medical device manufacturer Semler Scientific has expanded its Bitcoin (BTC) holdings, acquiring an additional 303 BTC for $29.3 million. The company continues to double down on its MicroStrategy-inspired corporate treasury strategy. High Bitcoin Price Not A Barrier To Purchase Bitcoin made history this week by surpassing the $100,000 price level for the first time, […]
The Bitcoin miner will save energy and money by using excess wind power and recycled ASICs at its newly purchased facility in Texas.
MARA Holdings urged the US government to be more aggressive in securing positions in Bitcoin and Bitcoin mining.
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. Related Reading: This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC 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. 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. Related Reading: Bitcoin Soars Past $82,500 As MicroStrategy Makes Major 27,200 BTC Purchase 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. Featured image from Unsplash, charts from Yahoo! Finance and Tradingview.com
According to Bitcoin-only financial services firm River, 62 publicly traded companies use a Bitcoin treasury strategy as of November 2024.
MARA Holdings says there will soon be a heated race among nations to gather Bitcoin, and the US needs to step up its game.
In an interview with CNBC on Monday, Fred Thiel, CEO of Marathon Digital Holdings (NASDAQ: MARA), shared his bullish outlook on Bitcoin. He emphasized the growing institutional interest and a favorable regulatory environment that could propel the BTC price to new highs. Thiel dismissed the impact of the recent Bitcoin halving, stating, “I think the halving had zero effect.” Instead, he attributed the Bitcoin price surge to the introduction of spot exchange-traded funds (ETFs) earlier this year. “In January, you had the ETFs that launched that drove all of a sudden the beginnings of some institutional interest,” he noted. Institutions Just ‘Waiting To Buy Up’ Bitcoin While the initial investments in these ETFs were predominantly retail, Thiel observed a shift as institutional players began entering the market. “Then you started seeing some pension funds starting to buy into ETFs and into Bitcoin-related equities like our stock or MicroStrategy‘s,” he added. The CEO highlighted the potential impact of political developments on the BTC market. “With the election, you know, Donald Trump ran on a platform that is very pro-Bitcoin—Bitcoin strategic reserve, mining in the US, etc.,” Thiel said. He suggested that such a stance could lead to a more supportive regulatory environment in the United States. Related Reading: Bitcoin Rally Pauses Before $100K—Here’s What Could Happen Next “What that’s ended up driving is a huge belief that all of a sudden the regulatory environment for Bitcoin and crypto will get much better, that the US will double down and really invest in Bitcoin potentially,” he explained. This anticipated shift could pressure other nations to adopt similar policies, fostering global adoption. Thiel also pointed out the robust market dynamics absorbing selling pressure from long-term holders. “Every single Bitcoin that had been purchased was in profit, and you started long-term holders who had held Bitcoin for years beginning to liquidate a little bit to take some profits,” he said. Despite this, he emphasized the market’s resilience: “There is so much demand in the market that it just keeps soaking it up.” Addressing concerns about Bitcoin’s notorious volatility, Thiel asserted that significant drawdowns might be a thing of the past, at least in the near term. “The volatility of past years, where you would hit a peak and then see a 20% or 30% drawdown, I think are gone, at least for the near-term future,” he stated. He believes that institutional investors are poised to enter the market aggressively. “I think what we’re going to see is essentially institutions just waiting to buy up Bitcoin,” Thiel predicted. Related Reading: Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained He cited recent actions by major corporations to support his outlook. “You look at MicroStrategy—they’re [issuing a] $3 billion bond; they’re out there buying Bitcoin very aggressively,” he said. “We raised a $1 billion bond at 0% coupon the same week as Michael Saylor did, and we went out and acquired hundreds of millions of dollars of Bitcoin.” Thiel emphasized that this trend is gaining momentum: “Lots of people are starting to do this now.” Concluding his insights, Thiel expressed confidence in Bitcoin’s upward trajectory. “Anybody who’s selling is selling into a market where there’s ample demand, and I think that for the foreseeable future we’ll continue to see Bitcoin price move up—you know, up and down, up and down—but generally the trend will be upwards,” he said. Notably, Cantor Fitzgerald recently adjusted its price target for MARA from $33 to $42. The revision follows Mara Holdings’ completion of a substantial $1 billion convertible note offering last week. From the $980 million raised, Mara used $199 million to buy back $222 million in principal of its 2026 convertible notes. With $781 million in proceeds remaining, the company plans to purchase additional Bitcoin, leveraging a strategy similar to MicroStrategy (MSTR). However, unlike MicroStrategy, which focuses purely on capital market maneuvers to accumulate Bitcoin, Mara also operates the largest publicly-traded Bitcoin mining operation by hash rate. Analysts at Cantor highlight this as a key differentiator with bullish potential. At press time, BTC traded at $92,531. Featured image from YouTube, chart from TradingView.com
Mara Holdings posted a net loss for Q3 and missed analyst revenue estimates despite mining more Bitcoin blocks and boosting its energized hashrate by 17%.
As bitcoin climbs above $82,000, U.S. crypto equities are soaring in pre-market trading, with Semler Scientific leading with a 25% gain.
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BTC miners are struggling to adapt to a post-halving environment.
Depending on the November presidential election outcome, Fred Thiel said he would consider “looking outside the US” for Bitcoin mining firm MARA’s operations.
The new raise is part of Marathon’s strategy to go “full hodl” and make Bitcoin a strategic reserve asset for the company.
The miner said its adjusted EBITDA swung to loss, compared to previous quarter's profit.
The miner holds over 20,000 bitcoin and plans to buy more in the open market.
The new offering will expedite the process of large and non-standard transactions.
Marathon Digital mined a whopping 1,853 Bitcoin in December, its most ever in a month.