MARA Holdings Raises $2 Billion for Bitcoin Purchases, Shifts Focus on Mining Operations

MARA Holdings, a prominent player in the Bitcoin mining industry, announced plans to raise $2 billion through a stock sale. The company aims to allocate these funds towards acquiring Bitcoin and general corporate purposes. They have partnered with leading investment banks like Barclays Capital, BMO Capital Markets, BTIG, Cantor Fitzgerald, Guggenheim Securities, HC Wainwright, and Mizuho Securities for the share offering. The sales will be executed at market prices on Nasdaq and other trading platforms, with representatives receiving up to 3% commission on gross proceeds from the sale. This move signifies a strategic shift for MARA Holdings, which previously focused on leasing mining facilities. They are now prioritizing in-house ownership of their operations and investing in renewable energy sources to reduce costs and enhance profitability.