Bitcoin miners MARA and Hut 8 increase their BTC reserves with large purchases.

Bitcoin mining companies MARA (formerly Marathon Digital) and Hat8 have announced significant purchases of Bitcoin as a growing number of companies look to stockpile the primary cryptocurrency in their coffers.

MARA expanded from last week's previously announced purchase of Bitcoin, which boosted its results. 15,574 bitcoins with a total value of $1.53 billion. Last week, the first revealed the first part of the purchase, buying 11,774 BTC for 1.1 billion dollars. Thursday's announcement shows the company raising another 3,800 BTC for around $400 million.

The added sum raises MARA's treasury stock to 44,394 BTC—more than $4.4 billion. Meanwhile, Hatch has added 8,990 bitcoins for nearly $100 million, giving it 10,096 BTC (over $1 billion) in its reserves.

MARA's acquisition comes on the back of two separate convertible note offerings in which it raised nearly $2 billion. November And December. The company, which trades on Nasdaq under the ticker MARA, has now nearly tripled its bitcoin holdings in the past calendar year. According to recent SEC filings.

While the average purchase price of the marathon was around $98,529 per bitcoin, Hat 8,990 bitcoins received an average of $101,710 – both higher than the current bitcoin price of $97,951.

“We believe deeply in our operations and building a strategic Bitcoin portfolio will strengthen our financial position as we pursue large-scale growth initiatives in energy and digital infrastructure,” said Hat8 CEO Asher Gennot. In the statement.

The two Bitcoin miners are both in the top six of publicly traded companies in Bitcoin holdings. According to Bitcoin Treasuries data. MARA is down more than 5% on the day, but Hut 8 is down about 7%. Reflecting the crypto market crash that took place in the early afternoon.

Bitcoin mining It is the process of adding and verifying blocks on the Bitcoin blockchain, a process that requires a lot of energy and hardware resources. As usual today, miners are large companies with warehouses full of expensive computers; Because not all miners can win blocks. It happens occasionally.

Edited by Andrew Hayward.