Bitcoin mining is a popular trend in the cryptocurrency world. Marathon Digital Has announced its intent to raise as much as $805 million for the purchase of more BTC. The miner has announced its intention to buy more BTC after experiencing unprecedented success with the asset in November.
The token is only a few weeks away from its all-time $99,000 high. The asset has still gained more than 36% over the past 30 days, despite the recent price correction. CoinMarketCap. Marathon Digital has joined the list of businesses that are looking to increase their acquisition efforts.
Just in: #Bitcoin Miner Marathon Digital raises up to $805,000,000 for more mining equipment $BTC.
— Watcher.Guru (@WatcherGuru) December 2, 2024
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Marathon Digital Invests $805M in Bitcoin after 6,484 BTC purchase
The crypto market is on an incredible bull run since Donald Trump was elected as the US president in 2024. Tokens like Ripple (XRP) While the crypto industry is a leader, the market has reached unprecedented heights. Other firms have started to notice that companies such as MicroStrategy are benefiting from the acquisition of this asset. In addition, other firms are starting to adopt the same approach.
Bitcoin miner Marathon Digital announced recently that it wanted to raise $805,000,000 in order to buy BTC. This announcement is not surprising, as the firm recently sought to spend $1 billion on cryptocurrency.
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A spokesperson for the company said that it recently bought Bitcoins worth 618 million dollars. US Securities and Exchange Commission (SEC) filing. This most recent purchase was 6,484 BTC, at an average cost of $95,352. The price is high, but it’s still a great investment given where most predict that the asset will go over the next year.
Bitcoin will reach six figures in value by 2025, if favorable regulations are implemented. This could go even higher, as the United States discussed a strategy reserve plan for leading crypto.
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Source: watcher.guru
