MARA Holdings Announces $2B Stock Offering to Buy More Bitcoin

MARA Holdings Plans $2 Billion Stock Offering to Acquire More Bitcoin

MARA Holdings Inc. (MARA), one of the largest publicly traded Bitcoin mining companies, is taking a bold step in its expansion strategy by announcing a $2 billion stock offering. The funds raised from the sale will primarily be used to purchase more Bitcoin (BTC) and support its general corporate purposes. This move mirrors the strategy used by Michael Saylor’s MicroStrategy, which has leveraged various financing methods to accumulate a significant amount of Bitcoin over the years.

In a Form 8-K filing with the Securities and Exchange Commission (SEC) on March 28, MARA revealed that it had entered into an at-the-market agreement with prominent investment firms like Cantor Fitzgerald and Barclays. These firms will sell the stock “from time to time,” providing the company with the necessary capital to further bolster its Bitcoin reserves.

“MARA intends to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital,” the company stated in the filing.

MARA Follows in the Footsteps of MicroStrategy

This strategy is reminiscent of MicroStrategy’s approach, which has made Bitcoin a central part of its business model. MicroStrategy, led by Michael Saylor, is the largest corporate holder of Bitcoin, having accumulated over 506,000 BTC, valued at roughly $42.4 billion.

MARA Holdings, while not as large as MicroStrategy, follows closely as the second largest corporate Bitcoin holder, with 46,374 BTC, worth around $3.9 billion. The company has been an ardent supporter of Bitcoin, with its CEO Fred Thiel stating last July that it would go “full HODL” and stop selling any Bitcoin mined. This sets MARA apart from other miners, who typically sell Bitcoin to fund operations, instead opting to hold their BTC as a long-term asset.

For more details on MicroStrategy’s Bitcoin holdings, visit BitcoinTreasuries.NET.

MARA’s Previous Stock Offerings and Market Response

This is not the first time MARA has turned to the market to fund its Bitcoin purchases. Last year, the company raised $1.5 billion through a similar stock offering, which was aimed at buying more Bitcoin. In November, MARA also issued $1 billion worth of zero-coupon convertible senior notes, with most of the proceeds earmarked for additional Bitcoin acquisitions.

However, MARA’s stock has faced some volatility in recent weeks. On March 28, shares closed down by 8.58%, ending the day at $12.47, following a broader decline in the crypto mining sector. The drop was triggered by news that Microsoft had canceled its plans to invest in new data centers in the US and Europe, rattling mining stocks. As of March 30, MARA’s shares had dropped another 4.6%, closing at $11.89 in after-hours trading, according to Robinhood.

Bitcoin’s Current Price and Market Conditions

As of the latest market update, Bitcoin is trading just above $82,000, down about 1.2% over the past 24 hours after briefly reaching a local high of around $83,500. The broader crypto market continues to face pressure, with Bitcoin’s recent decline reflecting the ongoing volatility in the sector.

For real-time updates on Bitcoin’s price, visit CoinGecko.

Final Thoughts: MARA's Bold Bitcoin Strategy

MARA Holdings' decision to raise $2 billion to acquire more Bitcoin underscores its commitment to a long-term Bitcoin strategy. With its "full HODL" approach and a growing number of institutional investors favoring Bitcoin, the company is positioning itself as a major player in the Bitcoin mining and corporate treasury space.

As Bitcoin’s price remains volatile, MARA's strategy reflects broader institutional confidence in the digital asset’s future. While the stock market may react to macroeconomic news and short-term fluctuations, MARA's decision to continue acquiring Bitcoin highlights its belief in the cryptocurrency's long-term value.