MARA Raises $2 Billion for Bitcoin Acquisition

Mining company MARA is launching a public stock offering of $2 billion to purchase Bitcoin directly. This move marks a significant shift from traditional mining operations as declining profitability following the latest Bitcoin halving event prompts MARA to increase its digital asset reserves. The company partnered with major banks like Barclays, BMO Capital Markets, BTIG, and Cantor Fitzgerald for this equity offering. Funds raised will be primarily directed towards purchasing Bitcoin, but also used for general corporate expenses and working capital management. 46,376 BTC already held by MARA make it one of the largest public Bitcoin holders in the industry.