Marathon Digital (MARA) has acquired an additional 703 Bitcoin, bringing its November purchases to a total of 6,474 BTC. The firm, now holding approximately 34,794 BTC valued at $3.3 billion, solidifies its position as the second-largest corporate Bitcoin holder after MicroStrategy. The acquisitions were funded by a $1 billion zero-interest convertible senior note sale, with $160 million reserved for future Bitcoin purchases at lower prices.

Marathon CEO Fred Thiel emphasized Bitcoin’s value as a hedge against inflation and currency devaluation, calling it essential for corporate balance sheets. Marathon’s holdings represent 0.16% of Bitcoin’s total supply, compared to MicroStrategy’s 1.8%.

Public companies have significantly increased Bitcoin holdings this year, rising from 272,774 BTC to 508,111 BTC. Over 143,800 BTC were added in November alone, marking a sharp increase from October’s 2,400 BTC. Marathon’s shares have risen nearly 14% year-to-date, reflecting growing investor confidence in its Bitcoin strategy.

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