MARA Holdings plans huge $2B stock offering to buy more Bitcoin
Bitcoin miner MARA Holdings will offer up to $2 billion worth of its stock, the proceeds of which will partly be used to purchase more Bitcoin.
Bitcoin miner MARA Holdings Inc (MARA) is looking to sell up to $2 billion in stock to buy more Bitcoin as part of a plan that bears a resemblance to Michael Saylor’s Strategy.
MARA Holdings, formerly Marathon Digital, said in a March 28 Form 8-K and prospectus filed with the Securities and Exchange Commission that it entered into an at-the-market agreement with investment giants, including Cantor Fitzgerald and Barclays, for them to sell up to $2 billion worth of its stock “from time to time.”
“We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,” MARA added.
