MARA Holdings Acquires 11,774 Bitcoin for $1.1 Billion

Bitcoin mining firm, MARA Holdings, has acquired 11,774 Bitcoin for $1.1 billion, pushing its total Bitcoin treasuries to 40,435, worth approximately $3.92 billion. This purchase follows MARA's strategy of retaining all mined Bitcoin and utilizing financial instruments to grow its reserves.

The acquisition coincides with MARA achieving a historic hashrate for the firm of 50 exahashes per second (EH/s), doubling its output in 2024. CEO Fred Thiel hinted at plans to expand mining operations further using existing capacity.

Interestingly, MARA’s stock dropped 4.4% following the announcement. The company’s stock has struggled to recover, showing a slight annual decline of 0.55% despite hefty gains in 2023. Bitcoin itself has seen recent volatility, trading at $97,090 after a record high of $104,000 on Dec. 5.

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Bernstein Expects MicroStrategy to Enter the Nasdaq 100

Bernstein analysts predict continued momentum for MicroStrategy, driven by its potential inclusion in the Nasdaq 100 index and a favorable regulatory environment under the incoming Trump administration. Inclusion could bring at least $2.1 billion in net share purchases by ETFs, with MicroStrategy expected to receive a 0.47% index weighting.

MicroStrategy’s aggressive Bitcoin acquisition strategy has added $16 billion to its holdings in the past 40 days, creating a 147% premium over its Bitcoin net asset value. Despite concerns about its premium valuation and reliance on equity and debt issuance, analysts believe the company has ample capacity to continue purchases at current price levels.

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Marinade Finance Proposes MEV Reforms for Solana

Marinade Finance, a leading staking platform on Solana, has proposed governance measures to address challenges around maximum extractable value (MEV) on the blockchain. MEV, the ability to profit from transaction ordering, can enhance network efficiency but also risks centralization and user harm through front-running and sandwich attacks.

The proposal aims to democratize MEV by creating systems for equitable rewards and ensuring decentralization. Marinade’s concerns have grown following Jito's closure of the public mempool, which led to private mempools dominating transaction ordering. The proposal seeks to mitigate harmful MEV practices while optimizing the benefits of natural MEV opportunities.

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Notcoin Introduces Earn Rewards Platform for Telegram Users

Open Builders, the team behind the Notcoin game, has launched Earn, a rewards platform for Telegram Wallet users holding TON-based tokens. Earn incentivizes users by offering token rewards from new project launches airdropped to existing token holders.

The platform aligns with Notcoin’s goal of expanding its ecosystem and rewarding user engagement. With features like airdrops and exclusive reward pools, the initiative aims to boost adoption and interaction within TON projects. Participants can join multiple project pools, with hourly rewards distributed based on leaderboard rankings.

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Data of the Day

According to DappRadar data, the blockchain gaming sector increased its market share by 28.2% in November, with an average of 6.8 million active wallets per day. Additionally, venture capital investments in startups totaled $222 million which is the second-highest funding month of the year.

The figure might get even higher soon as yesterday, the Beam Foundation said it plans to launch a $150 million venture fund in Abu Dhabi in 2025, targeting crypto gaming projects. The fund will also support startups in artificial intelligence, augmented reality, and user-generated content.

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More Breaking News

• Italy plans to scale back its earlier proposed crypto capital gains tax hike of 42% to a significantly reduced rate, according to lawmakers.
• Japanese crypto exchange Coincheck is set to go public on Nasdaq through a de-SPAC merger, with an initial market capitalization of $1.3 billion.
• A trader turned $2,500 into $200,000 by leveraging XRP futures at 500x on Rollbit, capitalizing on Ripple's regulatory approval for RLUSD stablecoin.
• Billionaire Ray Dalio advocates for "hard money" like gold and Bitcoin over debt assets, citing concerns about rising global indebtedness.
• Peanut the Squirrel surged 27% following Coinbase's announcement of plans to list the meme coin for trading.
• Citi analysts argue stablecoins reinforce the US dollar's dominance rather than diminishing it, highlighting their significant role in cryptocurrency trading.

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