Several bitcoin mining companies have raised a total of $5.2 billion through convertible notes since June, with the majority of the funds raised in the last four weeks. The mining firms are taking advantage of the bullish sentiment around bitcoin among institutional investors. Bitdeer, Marathon Digital, Core Scientific, and Iris Energy are among the companies that have initiated convertible notes offerings recently. Bitdeer's stock has surged 86% in the past month, and Benchmark's Mark Palmer raised his price target for the stock from $16 to $29. Marathon and Riot, two other mining companies, are considering using the capital to buy more bitcoin. Additionally, MicroStrategy has purchased an additional 21,550 bitcoins, bringing its total holdings to 423,650 BTC. Meanwhile, the stock prices of Bitdeer, MicroStrategy, and Coinbase have experienced declines.



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