Marathon Digital is committed to increasing its Bitcoin (BTC) purchases, following a recent rally that has driven the asset's price to new heights. The bitcoin miner announced the successful completion of an offering of convertible senior notes, raising approximately $980 million, primarily earmarked for acquiring more bitcoin and general corporate purposes. As of October 31, Marathon held 27,562 BTC, which is about 8% of the total BTC held by MicroStrategy, the largest publicly traded holder. MicroStrategy's founder, Michael Saylor, hinted at Marathon's proactive approach to BTC acquisition during a discussion, indicating he does not foresee a limit on their purchasing abilities. Additionally, more companies, like Genius Group, are joining the trend, recently adding $4 million in bitcoin to their treasury. Saylor expects this aggressive engagement in bitcoin purchases to gain momentum in 2025 as more companies align with management teams on cryptocurrency strategies.

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