MARA Holdings Seeks $2 Billion to Expand Bitcoin Reserves
MARA Holdings, the largest Bitcoin miner in the U.S., is raising up to $2 billion through an at-the-market (ATM) stock offering. The funds will primarily be used to:
- Acquire additional Bitcoin
- Support general corporate operations
- Reinforce the company’s long-term "hodling" strategy
Partnership with Financial Firms
In a March 28 SEC filing, MARA revealed partnerships with top financial institutions, including:
- Barclays
- Cantor Fitzgerald
- Guggenheim Securities
These firms will facilitate the stock sales. The company stated:
"We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital."
This flexible offering allows MARA to issue shares periodically based on market conditions, with no fixed timeline or volume requirement.
Focus on Bitcoin Reserves
MARA prioritizes expanding its Bitcoin reserves. Key highlights:
- Current Holdings: 46,374 BTC (~$3.9 billion)
- Rank: Second-largest public Bitcoin holder (Bitbo)
- Strategy: Emulate MicroStrategy’s institutional Bitcoin accumulation (506,000+ BTC)
👉 Why Bitcoin mining stocks are gaining traction
MARA Stock Price Action
Despite strong fundamentals, MARA’s stock has faced volatility:
- March 31, 2025 Close: $12.47 (-8.58% daily drop)
- YTD Performance: -39% (since January 2025)
- Q4 2024 Revenue: $214.4 million (+37% YoY growth)
The decline mirrors broader crypto market trends, with Bitcoin dropping ~4% to $83,700 on the same day.
On The Flipside
- Centralization Risk: Large holdings by entities like MARA challenge Bitcoin’s decentralization ethos.
Why This Matters
MARA’s $2 billion stock sale underscores its confidence in Bitcoin as a long-term strategic asset, solidifying its position as a major player in the crypto mining sector.
FAQ Section
Q1: How will MARA use the $2 billion raised?
A1: Primarily for Bitcoin acquisitions and general corporate operations.
Q2: Which firms are assisting MARA with the stock sale?
A2: Barclays, Cantor Fitzgerald, and Guggenheim Securities.
Q3: What’s MARA’s current Bitcoin holdings rank?
A3: Second-largest public holder, with 46,374 BTC (~$3.9 billion).
👉 Explore Bitcoin investment strategies