Catenaa, Tuesday, January 7, 2025 – The leading bitcoin mining firms, MARA and Hut 8, have purchased over $100 million worth of BTC assets according to reports.
With the recent Bitcoin acquisitions, the two firms stepped into the global sphere of top Bitcoin holdings.
One report said that MARA had invested $1.53 billion to acquire 15.574 bitcoin, which contributed to the total of 44,394 MARA bitcoin reserves valued at $4.4 billion.
Meanwhile, Hut 8 has purchased 990 bitcoin, which is worth $100 million, and the total raised to 10,096 bitcoin, approximately valued at over $1 billion.
It is reported that two convertible note offerings in November and December last year have been practised by the MARA firm to raise $1.925 billion to be invested in the recent BTC purchase.
Further, low-cost production and strategic at market purchases have been utilized by Hut 8 for its BTC purchases, another report said.
The recent BTC acquisition of Hut 8 would be invested in its fleet upgrade.
Hut 8 is a large-scale energy infrastructure operator and North America-based renowned bitcoin miner.
