The largest publicly traded bitcoin miner, Marathon Digital Holdings (MARA), purchased $1,000,700,000 worth of $66.7 million at an average price of $66,700 per coin. The deal, conducted through the FalconX corporate venue, increased the total amount of Bitcoin on the company’s balance sheet to 36,303 coins, with a combined value of $2.42 billion. The average purchase price of an asset, including mining costs, is about $58,635.

Lookonchain analysts note the transition of MARA to a hybrid model of reserve formation. The company not only retains all minted coins, but also actively buys Bitcoin in the over-the-counter market during price adjustments using funds from issuing long-term convertible bonds. The remaining capital is directed toward AI infrastructure development in Ohio. Previously, to settle zero-rate bond liabilities, MARA had already sold 15,133 BTC worth $1.1bn.