MARA Holdings Announces $2 Billion Stock Offering to Purchase Bitcoin
The post MARA Holdings Announces $2 Billion Stock Offering to Purchase Bitcoin appeared on BitcoinEthereumNews.com.
TLDR MARA Holdings plans to offer up to $2 billion worth of its stock to purchase more Bitcoin The company has partnered with investment firms like Barclays and Cantor Fitzgerald to sell shares “from time to time” MARA currently holds over 46,000 BTC worth nearly $4 billion, making it the second-largest corporate Bitcoin holder The company is following a “full HODL” strategy, keeping all mined Bitcoin and buying more MARA reported strong Q4 2024 results with $214.4 million in revenue and recently acquired a Texas wind farm to power mining operations MARA Holdings Inc., one of the largest Bitcoin mining companies in the world, has announced plans to offer up to $2 billion worth of its stock to fund additional Bitcoin purchases. The announcement came through a Form 8-K and prospectus filed with the Securities and Exchange Commission (SEC) on March 28. The Florida-based company, formerly known as Marathon Digital, has entered into an at-the-market agreement with several major investment firms. These include Cantor Fitzgerald, Barclays, and Guggenheim Securities. Under the terms of the agreement, these firms will sell MARA shares “from time to time” directly on Nasdaq or via negotiated transactions. This flexible approach gives MARA the ability to tap into the market as needed. “We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,” MARA stated in its SEC filing. The company did not specify a timeline or volume commitment for the stock sales. This move mirrors the strategy employed by Michael Saylor’s Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder. Strategy has used various market offerings, including stock sales, to amass 506,137 BTC worth approximately $42.4 billion. MARA Holdings currently holds the second-largest Bitcoin reserves among public companies. It has 46,374 BTC in…
Filed under: News - @ March 31, 2025 8:25 am