MARA Holdings (MARA) has announced plans to initiate a $2 billion stock offering aimed at purchasing more bitcoin. This decision follows a successful earlier raise of $1.4 billion through an at-the-market (ATM) stock offering. The funds generated will primarily support general corporate needs and increase their bitcoin reserve.

According to a Form 8-K and a new prospectus filed with the U.S. SEC, MARA is working with multiple investment banks including Barclays and BMO Capital Markets.

MARA’s stock sale aims to further capitalize its bitcoin acquiring strategy, where it has elevated its BTC holdings from 13,726 BTC to a staggering 46,376 BTC, making it the holder of the second-largest bitcoin reserve among publicly traded entities.

The miner adopted Michael Saylor’s strategy of equity financing to supplement its operational efficiency, despite the challenges stemming from last year’s halving that constricted mining rewards, squeezing profit margins due to escalating costs.

Key Points

• MARA is executing a $2 billion stock offering following previous AMT offerings.
• The capital raised will primarily be used for acquiring bitcoin and general corporate purposes.
• The miner is now holding 46,376 BTC.

Additional Resources

Read more: Bitcoin Mining Is So Rough that a Miner Adopted Michael Saylor’s Successful BTC Strategy