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MicroStrategy's Michael Saylor advocates for Bitcoin as a corporate treasury asset, increasing holdings to 439,000 BTC, despite criticism labeling the business model a "giant scam." Other companies like Marathon Digital and Genius Group are adopting similar strategies, while Microsoft remains skeptical. Shareholder proposals at Amazon push for Bitcoin's inclusion to combat inflation and enhance value.
Cango Inc., a Shanghai-based car dealership, has invested $256 million in Bitcoin mining, acquiring 32 EH/s from Bitmain Technologies. The company extracted 363 BTC in November, positioning itself as the fifth-largest public Bitcoin miner globally, with plans to expand its hashrate to 50 EH/s by 2025. Despite China's mining ban, Cango's venture is thriving, significantly boosting its revenue and market cap.
Marathon Digital is transforming Bitcoin mining by repurposing excess heat to warm approximately 80,000 homes in Finland, significantly aiding the country's energy efficiency goals. This initiative, which began with a pilot project heating 11,000 homes, utilizes district heating technology to channel warm water through underground pipelines. The company's commitment to sustainability is further demonstrated by its recent acquisition of a wind farm in Texas, aimed at enhancing its renewable energy portfolio.
Tether has announced a $775 million investment in Rumble, a video streaming platform that promotes free speech and positions itself as a YouTube alternative. The deal includes an initial cash investment of $250 million and will grant Tether 103.3 million shares at $7.50 each, expected to close in early 2025. Rumble plans to create a Bitcoin reserve, aiming to purchase up to $20 million in Bitcoin, reflecting its belief in the cryptocurrency's potential as a hedge against inflation.
Hut 8 has bolstered its Bitcoin holdings to over $1 billion following a $100 million acquisition of approximately 990 BTC, bringing its total reserves to over 10,096 BTC. This strategic move positions Hut 8 among the top 10 corporate Bitcoin holders globally, as the company aims to enhance its financial position and shareholder returns through effective treasury management.
Marathon Digital Holdings and Hut 8 have made significant investments in Bitcoin, purchasing over 16,000 BTC for $1.6 billion during a market dip. Marathon acquired 15,574 BTC for approximately $1.53 billion, increasing its total holdings to 44,394 BTC, while Hut 8 bought 990 BTC for $100 million, raising its reserves to 10,096 BTC. These moves follow a sharp decline in Bitcoin's value, which dropped over 5% due to a US Federal Reserve rate adjustment.
Marathon Digital Holdings (MARA) has acquired 12,000 Bitcoin, signaling confidence in Bitcoin's long-term value as it approaches a potential rally. Litecoin has surged by 74.6% amid ETF optimism, with analysts predicting further price increases, while Rollblock's innovative GambleFi platform is poised for significant growth, leveraging blockchain technology to enhance the online gambling experience.
Riot Platforms has acquired 5,117 Bitcoin for $510 million after raising $525 million through a private offering of convertible notes. This purchase increases its total holdings to 16,728 BTC, valued at approximately $1.69 billion, as the company follows a strategy similar to MicroStrategy's Bitcoin treasury reserve approach. Other miners, like Marathon Digital, are also adopting this strategy to bolster their balance sheets.
CoinShares predicts a significant overhaul in U.S. crypto regulation under the Trump administration in 2025, favoring Bitcoin (BTC) while altcoins may outperform in the near term. The rise of Bitcoin-yielding companies and Ethereum's Layer 2 solutions are also expected to shape the market, with businesses increasingly adopting Bitcoin as a treasury asset to generate returns. As major companies begin accepting crypto payments, BTC is positioned as both a store of value and a source of passive income.
Marathon Digital Holdings has acquired 11,774 BTC for approximately $1.1 billion, funded by zero-interest convertible bonds, boosting its total holdings to 40,435 BTC valued at $3.9 billion. This strategic move comes amid Bitcoin's price volatility, reflecting the company's commitment to long-term growth and innovation in the face of mining challenges. Additionally, Marathon's diversification into AI and computing aims to enhance operational efficiency and address rising mining difficulties.
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