- MARA plans $2B stock sale to buy more Bitcoin
- 46,376 BTC holdings grow as MARA boosts reserves
- Mining challenges push MARA to direct BTC purchases
MARA Holdings has announced a new stock offering plan to raise up to $2 billion. The company aims to use the funds to expand its Bitcoin holdings and support corporate growth. This follows its previous $1.5 billion stock sale, which was also used for similar purposes.
Stock Offering to Strengthen Bitcoin Acquisition Strategy
MARA Holdings plans to sell shares through an at-the-market (ATM) offering, allowing it to determine sale prices. The selling agents Barclays Capital Inc. and BMO Capital Markets Corp. will receive commissions amounting to a maximum of 3% from the total proceeds. MARA Holdings mentioned this program serves as the replacement for earlier terms from October 2023 that let stock sales reach $1.5 billion.
According to MARA Holdings, 40% of the funds will be used to buy Bitcoin from the open market. The remaining amount will support corporate expenses and working capital. “We remain committed to our long-term Bitcoin strategy and see this as an opportunity to strengthen our position,” a company spokesperson said.
With 46,376 BTC in their reserves MARA Holdings maintains the status of being the second-largest Bitcoin holder among publicly traded companies. With this new offering MARA can boost its Bitcoin holdings while facing difficulties in Bitcoin mining operations.
Shift in Strategy Amid Mining Challenges
Bitcoin mining operations encounter two major obstacles from growing competition and escalating operational costs across their networks. Due to the upcoming Bitcoin halving event expected to decrease mining rewards MARA Holdings and other firms need to consider direct Bitcoin purchases as a new business strategy.
Very similarly to MicroStrategy MARA Holdings implements a strategy which involves using equity offerings and converting bonds to purchase Bitcoin. MARA Holdings has substantially increased its Bitcoin ownership since 2024 and now possesses much larger holdings than 13,726 BTC.
The economic obstacles have not deterred MARA Holdings from investing in Bitcoin. Experts indicate that this business strategy enables MARA Holdings to grow its digital assets collection and preserve financial prosperity.
