This Company Buys Bitcoin Worth IDR 9.7 Trillion
JAKARTA - One of the largest Bitcoin mining companies listed in the US stock market, MARA Holdings bought large amounts of Bitcoin. Unmitigated, the company previously known as Marathon Digital bought 6,474 Bitcoins worth US$615 million (Rp9.7 trillion). This purchase is part of the company's ambitious plan to raise more Bitcoins in the midst of volatile markets.
Through an X account (formerly Twitter) on Wednesday 27 November, MARA revealed that this latest purchase was made at an average price of US$95,395 (Rp1.5 billion) per Bitcoin. With this acquisition, the total Bitcoin ownership of MARA now stands at 34,794 BTC, which is equivalent to around US$3.3 billion or equivalent to Rp52.1 trillion.
This purchase took place after MARA successfully closing the offer of interestless (0%) bonds worth US$1 billion (Rp15.8 trillion) last week. The offering of these bonds is due in 2030.
Most of the funds, about 199 million US dollars (Rp 3.1 trillion) will be used for buy backs of conversion bonds due in 2026. The rest will be allocated for further Bitcoin purchases and other operational needs.
The company also revealed that it still has around $160 million which is ready to be used to buy more Bitcoins if market prices drop further. In this strategy, MARA seeks to take advantage of the potential long-term gains of Bitcoin which often experience price volatility.