Mara Holdings completó la compra Bitcoin (BTC) por 615 millones de dólares, quedando 160 millones de dólares en reserva
Mara Holdings ha sido un factor activo en el apoyo Bitcoin (BTC) en los últimos días. La empresa de minería e inversión compró BTC por valor de 615 millones de dólares según su plan de reserva.
Mara Holdings comenzó a cumplir con su plan de compra de Bitcoin (BTC), basado en una nota senior convertible de 700 millones de dólares . La empresa minera comenzó a adquirir BTC recientemente a un precio promedio de $95,395. Anunció la compra una vez finalizada, similar a las participaciones de MicroStrategy.
Mara Holdings agregó otros 703 BTC a su última ronda de compras, lo que eleva el total a 6.474 BTC. Esto eleva las reservas de la empresa a 34.794 BTC, valoradas en alrededor de 3.300 millones de dólares. Además de recomprar una nota con vencimiento en 2026, Mara Holdings retiene 160 millones de dólares en activos líquidos con la intención de comprar BTC durante las caídas del mercado.
A pesar de ser un minero muy activo, Mara Holdings adoptó el modelo de MicroStrategy, ofreciendo rendimiento pasivo sobre BTC que compró con fondos prestados. Según Mara Holdings, el rendimiento alcanza el 36,7% anualizado, lo que funcionaría bien en el caso de un aumento de los precios de BTC. MicroStrategy logró un rendimiento del 12,3% , incluso con su ventaja de ser el primero en actuar.
Con nuestra oferta de notas convertibles de mil millones de dólares al 0%, nos complace compartir una actualización:
– Adquirió 703 BTC adicionales, lo que eleva el total a 6,474 BTC, a un precio promedio de $95,395 por BTC
– Rendimiento BTC por acción hasta la fecha 36,7%
– Total de BTC de propiedad: ~34,794 BTC, actualmente valorados en… pic.twitter.com/bzbunlyBRN- MARA (@MARAHoldings) 27 de noviembre de 2024
The purchasing strategy also happens at prices above the value of mined BTC, which is estimated at around $74,000 for each new coin. Known Mara Pool wallets continue to receive daily mint rewards. The company uses Foundry USA as its main pool, holding 17,123 BTC from mining operations.
The creation of passive yield from BTC purchases with the horizon of 1-2 years hinges on a sustained bull market in 2025 and beyond. If BTC has a bigger drawdown, it may hurt the strategy of corporate buyers.
MARA market price doubles
The decision to raise as much as $1B and buy BTC was one of the drivers of MARA price expansion. The company’s shares serve as a proxy for BTC investment and have reflected the increased market hype.
In the past two months, MARA grew from a low of $13.37 to $26.92. A rising stock price can also help both Microstrategy and MARA, with the potential for bond buyers to convert to company shares.
Some see MARA as an opportunity to get in on another version of MicroStrategy at an earlier stage, especially after signs the stock price rallied by 100% in months. The inflows into Mara Holdings hinge on FOMO and the expectation of both stock and BTC expansion, betting on a positive scenario.
Mara Holdings acquisitions give BTC short-term boost
Mara Holdings is buying BTC at a much higher average price than MicroStrategy, whose come purchases have been at an average of $56,648 per BTC.
The recent acquisition of a few hundred BTC occurs at a time when other lng-term holders are selling their reserves to take advantage of near-peak prices.
BTC showed its ability to stage a fast recovery above $95,000. However, that rally still stalled under the $100K milestone. The leading coin remains volatile, recently recovering above $97,300, before another dip under $95,000.
Recent institutional purchases do not guarantee long-term holding. The treasuries of corporations may have a different role, from passive holding to a yield-generating strategy as in the cases of MSTR and MARA.
Currently, MicroStrategy holds under 2% of the entire BTC supply, a figure that falls significantly short of the portfolio of long-term holders and unknown whales.
Most of the corporate holders are miners, who usually sell their BTC slowly to cover operating costs. In the case of MSTR and MARA, their BTC holdings are tied to investors and their shifting enthusiasm and trust. In the scenario of stock losses and a BTC price drop, they may need to sell their holdings.
MSTR’s current reserves can offer some risk hedge through selling, as the company bought BTC at a much lower base price. For MARA, the margin of error may be smaller, as its BTC cost basis is close to the crypto’s all-time high.
Most of the corporate holders in the top 20 in terms of BTC wallets added more coins after starting from a low-cost basis. Hut 8, Semler Scientific, Metaplanet, Boyaa Interactive International, and others boosted their BTC reserves, as a long-term liquidity bet and a tool to build better mining operations and data centers.
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