One of the largest Bitcoin miners in the world is now raising cash to buy even more Bitcoin. But, why?

‍What’s happening:‍

• Marathon Digital (NASDAQ: MARA) has made multiple new purchases of Bitcoin to hold directly as an asset
  

By the numbers:‍

• Marathon Digital has purchased 6,474 Bitcoin
  
• In total, Marathon Digital is currently holding 34,794 Bitcoin which makes them the second largest holder amongst publicly traded companies
  
• Marathon Digital used the cash from their recent $1B USD convertible debt financing for their latest Bitcoin purchases and is reserving $160M USD to accumulate more Bitcoin in the near future
  

Why it matters:‍

• The public markets have been exploding with excitement around Bitcoin ownership, which has been largely fuelled by the bold and aggressive Bitcoin buying spree that Michael Saylor and MicroStrategy (NASDAQ: MSTR) have been on
  

Going deeper:‍

• Marathon Digital has continued to ramp up their Bitcoin mining operations and data centre infrastructure as well, recently acquiring three new sites in Ohio
  

The intrigue:‍

• Marathon Digital has also been mining Kaspa, which is a rapidly growing cryptocurrency and is one of the most profitable digital assets to mine at scale currently

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