Share this article
BTC
96,833.75
-1.62%
ETH
3,822.30
+0.50%
XRP
2.27
-3.64%
USDT
1.00
-0.08%
BNB
718.89
-0.20%
SOL
238.53
+5.08%
DOGE
0.42845926
-0.14%
ADA
1.16
-0.29%
USDC
0.99975746
-0.02%
STETH
3,819.80
-0.32%
TRX
0.32059624
-4.82%
AVAX
50.76
-2.06%
SHIB
0.0₄30543
-2.78%
TON
6.83
+0.16%
LINK
23.32
-1.80%
XLM
0.47068169
-4.43%
WBTC
96,734.68
-1.34%
SUI
4.25
+14.21%
BCH
587.45
+2.47%
OP
2.49
-1.03%
MARA Holdings climbed on completing an $850 million offering of a zero-coupon convertible senior note.
By James Van Straten|Edited by Sheldon Reback
Dec 5, 2024, 12:43 p.m. UTC
What to know:
- As bitcoin jumped over $100,000, crypto-related stocks climbed in pre-market trading.
- Semler Scientific rallied more than 7% while MicroStrategy and MARA Holdings both gained 6%.
- IREN and Hut 8 find new ways to increase shareholder value, gaining before the open.
The analyst who wrote this piece owns shares of MicroStrategy (MSTR) and Semler Scientific (SMLR).
Crypto-related equities jumped before the U.S. market open after bitcoin (BTC) broke through the $100,000 psychological barrier, adding 4% in 24 hours.
Story continues below
Don’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.
Medical device company Semler Scientific (SMLR) led gains, adding more than 7% and approaching $70 a share. The company holds 1,570 BTC, according to bitcointreasuries.net.
Self-described bitcoin development company MicroStrategy (MSTR), with 402,100 BTC, is up over 6.5%. It holds the most bitcoin among all publicly listed companies.
MARA Holdings (MARA), with the second-largest stash, also rose more than 6%. The bitcoin miner completed an $850 million offering of a zero-coupon convertible senior note due in 2031. The proceeds will primarily go towards acquiring bitcoin and repurchasing existing notes due 2026.
Other miners also rose.
IREN (IREN) added 4.6%. It plans to offer a $300 million convertible senior note due 2030, with an additional $45 million option. The proceeds will go toward funding capped call transactions, a prepaid forward share purchase, and general corporate purchases.
Hut 8, up almost 7%, announced a $500 million at-the-market (ATM) offering and a $250 million stock repurchase program to support growth and shareholder returns, including buying bitcoin as a reserve asset.
Crypto exchange Coinbase (COIN) gained 4.4%.
As the senior analyst at CoinDesk, specializing in Bitcoin and the macro environment. Previously, working as a research analyst at Saidler & Co., a Swiss hedge fund, introduced to on-chain analytics. James specializes in daily monitoring of ETFs, spot and futures volumes, and flows to understand how Bitcoin interacts within the financial system. James holds more than $1,000 worth of bitcoin, MicroStrategy (MSTR), Semler Scientific (SMLR), IREN (IREN), MARA Holdings (MARA), Cipher Mining (CIFR), Bitfarms (BITF), Riot Platforms (RIOT) and CleanSpark (CLSK).
