MARA’s $2B Bitcoin Plan: Will It Boost the Market?

Mining giant MARA Holdings is doubling down on its bitcoin buying strategy with a $2 billion stock offering to acquire more of the cryptocurrency. The firm already holds 46,374 BTC, making it the second-largest publicly traded Bitcoin holder after MicroStrategy. This latest offering, announced in a March 28 SEC filing, will be conducted through an at-the-market (ATM) program involving major investment banks like Barclays, BMO Capital Markets, BTIG, and Cantor Fitzgerald. These institutions will sell MARA shares periodically to fund the purchase of Bitcoin on the open market. This is not MARA’s first foray into bitcoin acquisition; it has already issued a $1.5 billion ATM offering and $1 billion in convertible bonds last year.