Mara Holdings Inc. is planning to offer $ 2 billion in its shares to finance extra Bitcoin purchases.
In a 28 March form 8-K submit With the Securities and Exchange Commission, Bitcoin Miner, established in Florida, has announced that it cooperates with various large investment companies to sell shares “from time to time” under a new offer on the market.
Said the company in an accompanying prospectus These proceeds go to general business purposes, but it made it clear that buying more Bitcoin is high on the list.
According to the prospectus, Mara can sell its shares through companies such as Barclays, Cantor Fitzgerald and Guggenheim Securities, where the sale takes place directly on Nasdaq or via negotiated transactions.
The offer gives Mara the flexibility to use on the market if necessary, without a fixed timeline or volume obligation.
From March 30, Mara shares were traded at $ 11.89, a decrease of 4.6% in overnight trade after a decrease of 8.6% on March 28.
Mara already has more than 46,000 BTC worth almost $ 4 billion, and the newest step confirms its dedication to a “full HODL” strategy under which it intends to keep all Bitcoin IT mines and buy more for the long -term stock.
The latter offer follows a $ 1.5 billion ATM program that was launched last year and a $ 1 billion zero-coupon Convertible Note Sale in November, also aimed at stimulating its bitcoin holdings.
Mara, the second only for strategy in the Bitcoin Holdings company, follows a similar Playbook as Michael Saylor’s company, which recently unveiled plans to collect up to $ 21 billion through his Strk Preferred Stock offer as part of his “21/21” route map.
Plans to stack more Bitcoin follow a profitable run for Mara. In Q4 2024, the company attracted $ 214.4 million in turnover, an increase of 37% compared to the previous quarter and ended the year with a net income of $ 528.3 million, a jump of 248% on an annual basis. Adapted EBITDA rose by 207% to $ 794.4 million, so a new benchmark for the mining sector was established.
Last month, Mara also concluded his takeover of a wind farm in Hansford County, Texas. The site, which offers 114 megawatts of wind energy and 240 MW to interconnection capacity, was taken over to provide older mining installations with electricity that would otherwise be retired.
