MARA Holdings Launches $2 Billion Stock Offering for Bitcoin Acquisition

MARA Holdings is initiating a $2 billion stock offering to expand its Bitcoin acquisitions while continuing its 'Hodl' strategy. The company has partnered with several investment banks, including Barclays and BMO Capital Markets, for this at-the-market equity program, which will allow them to sell shares periodically to fund Bitcoin purchases. With a current holding of 46,376 BTC, MARA has the second-largest Bitcoin reserve among public companies, second only to Strategy. This new offering follows a previous plan to raise $1.5 billion, which has now been revoked. MARA's decision comes amid rising operational costs and challenges in the mining sector, making open market purchases a more viable option. The funds will primarily be used for general corporate purposes, including further Bitcoin acquisitions.