Mara Holdings plans stock sales over $ 2 billion to finance new Bitcoin purchases

<p> <strong> Mara Holdings plans stock sales over $ 2 billion to finance new Bitcoin purchases </strong> </p>

Mara Holdings plans stock sales for Bitcoin acquisition

Mara Holdings Inc (Mara), an important player in the Bitcoin mining sector, plans to sell shares worth up to $ 2 billion. The proceeds from this share offer should be used for the purchase of further Bitcoin, which confirms the company's strategy for the collection of digital currencies.

According to Mara Holdings, who were submitted to the Securities and Exchange Commission (SEC) on March 28, the company has made an AT-The-Market agreement with renowned investment companies such as Cantor Fitzgerald and Barclays. This agreement enables Mara to sell shares worth up to $ 2 billion from time to time. In addition to general corporate purposes, the net proceeds from the offer should be used in particular to finance Bitcoin acquisition and for operating capital.

Mara’s approach is based on the tactics of Michael Saylor, the CEO of the listed company Strategy, which is considered a leading Bitcoin holder. Strategy has accumulated 506.137 BTC worth $ 42.4 billion through similar equity sales. With 46,374 BTC worth around 3.9 billion US dollars, Mara Holdings is just behind Strategy and has the second largest stocks among listed companies.

In July 2023, CEO Fred Thiel said that Mara Holdings plans to sell none of the gninte Bitcoin to finance the company, which is rather atypical in the crypto mining industry. Rather, the company strives to further increase its Bitcoin stocks and build a reserve.

The desired share sale is not the first sign of Mara’s aggressive expansion strategy. At the beginning of last year, the company already offered shares worth up to $ 1.5 billion and in November issued primary noise bond bonds worth $ 1 billion, whereby the majority of the proceeds were also intended for the purchase of Bitcoin.

However, the trade was less pleasant for Mara Holdings on March 28th. The share closed at $ 12.47, a decrease of 8.58 %after reports shook the crypto mining shares that Microsoft abandoned its plans for investments in new data centers in the USA and Europe. On March 30, the course continued to fell by 4.6 % to $ 11.89.

The Bitcoin course is currently just below $ 83,000, which underlines the dynamics and volatility of the market. With his current strategy, Mara Holdings continues to position himself as a decisive player in the Bitcoin mining market and actively pursues the goal of significantly increasing its stocks.