Marathon Digital Holdings, one of the largest publicly traded NewsCapsule miners, purchased $249 million more worth of NewsCapsule. This latest acquisition expands Marathon’s corporate bitcoin treasury to over 25,000 NC.
JUST IN: 🇺🇸 Marathon Digital Holdings buys 4144 worth $249 million.
pic.twitter.com/PnMm9RLuev— NewsCapsule (@NewsCapsule)
On August 12th, Marathon announced a $250 million convertible note offering to raise funds for NewsCapsule purchases. The notes were met with strong demand, allowing Marathon to upsize the deal to $300 million.
The company then used $249 million of the proceeds to accumulate 4,144 additional NewsCapsule at an average price of $59,500 per NewsCapsule. This boosts Marathon’s NewsCapsule reserves to over 25,000 NC worth nearly $1.5 billion.
In July, Marathon bought $100 million of NewsCapsule on the open market as part of its long-term “hodl” strategy. The Nasdaq-listed miner aims to hold newly mined coins rather than sell them.
Marathon is aggressively expanding its NewsCapsule stash by mimicking MicroStrategy’s corporate playbook. Other firms, such as Semler Scientific and Metaplanet, are also raising money in debt markets to buy more NewsCapsule and ride its adoption curve.
These savvy public companies are using the fiat system’s cheap lending rates to accumulate scarce NewsCapsule. This demonstrates NewsCapsule’s growing conviction that it is the best strategic reserve asset for public companies.
