TL;DR
- MARA Holdings will launch a $2 billion stock offering to expand its Bitcoin treasury and strengthen its strategy following the latest halving.
- The company controls 70% of its mining facilities, allowing it to improve operational efficiency and invest in renewable energy.
- MARA aims to consolidate its position by accumulating BTC instead of selling it while exploring opportunities in blockchain and artificial intelligence.
MARA Holdings will launch a $2 billion stock offering to expand its Bitcoin treasury and strengthen its strategy after the latest halving.
The company has filed a prospectus with the SEC to carry out this operation through an “at-the-market” (ATM) program, in which investment banks such as Barclays, BMO Capital Markets, and Cantor Fitzgerald will facilitate the sale of shares on the market. The proceeds will be used directly to purchase Bitcoin, with a 3% commission deducted for financial intermediaries.
MARA's March 2025 Production Highlights are here.
-Average BTC Production Per Day Increased 6% M/M
-242 Blocks Won in March, 17% Increase M/M
-Increased BTC Holdings to 47,531 BTCRead the full report: https://t.co/EsEMODFs6b pic.twitter.com/KMYkoCuYPY
— MARA (@MARAHoldings) April 3, 2025
MARA Bets on Bitcoin and Infrastructure Control
The company, formerly known as Marathon Digital Holdings, operates one of the largest Bitcoin mining operations worldwide. In recent years, it has prioritized control over its infrastructure and now owns 70% of its facilities. This increased autonomy allows it to enhance operational efficiency and deepen its investment in renewable energy.
Currently, MARA holds 46,376 BTC in its treasury, making it the second-largest public company in terms of Bitcoin reserves, behind only MicroStrategy. With this new strategy, it seeks to increase its holdings and consolidate its market position. The halving, which reduces mining rewards per block, has lowered miners’ revenues, prompting the company to explore new ways to maintain profitability. Instead of selling newly mined BTC, it plans to accumulate them and purchase more using funds raised from the stock offering.
New Horizons in Sight?
Fred Thiel, MARA’s CEO, has confirmed that the company will follow this strategy in the long term, keeping BTC as its primary asset instead of liquidating it. Additionally, he noted that the company is also evaluating business opportunities in other areas such as blockchain and artificial intelligence.
MARA has focused on optimizing operational costs and minimizing the environmental impact of its operations. The combination of infrastructure ownership, investments in renewable energy, and a financial strategy centered on Bitcoin accumulation aims to ensure its long-term sustainability.
