MARA Holdings to Raise $2B to Acquire More Bitcoin

Bitcoin mining company MARA Holdings is launching a $2 billion public stock offering to acquire more Bitcoin. This initiative aligns with the company’s strategy of increasing BTC holdings through capital raises, supporting its “Hodl” agenda.

MARA has established a new at-the-market (ATM) equity program to finance Bitcoin purchases. According to a Form 8-K and a prospectus filed with the US Securities and Exchange Commission (SEC), the ATM program involves several investment banks, including Barclays, BMO Capital Markets, BTIG, and Cantor Fitzgerald, serving as agents.

The shares will be sold periodically at MARA Holdings’ discretion, with proceeds primarily used to purchase Bitcoin in the open market.

“We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital,” stated MARA in its prospectus.