MARA, formerly known as Marathon Digital, announced its acquisition of 6,474 Bitcoin through a $1 billion convertible note offering with 0% interest. The company initially purchased 5,771 BTC at an average price of $95,395 each, followed by an additional 703 Bitcoin. As of now, MARA holds about 34,797 Bitcoin in its treasury, valued at approximately $3.3 billion. The firm plans to utilize the remaining $160 million of the convertible notes to buy more Bitcoin during price dips. This strategy mirrors that of MicroStrategy, which has also been using corporate debt to finance Bitcoin acquisitions since 2020. MicroStrategy reported significant investments in Bitcoin, although its shares have faced volatility, dropping by around 25% recently. Critics of these debt-driven strategies caution about their sustainability, particularly if Bitcoin prices decline significantly before debt repayment obligations start in 2028.

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