Bitcoin miner MARA has successfully closed a $950 million private offering to acquire more Bitcoin. Initially aiming to raise $850 million, the demand led to an increase in the offering size. The funds were raised through a sale of 0% convertible senior notes due in 2032, targeting institutional investors. Based in Fort Lauderdale, Florida, MARA is now the second-largest corporate holder of Bitcoin, with 50,000 BTC valued at $5.8 billion, trailing only behind Strategy, which has significantly invested in Bitcoin over the years. The company's stock has recently experienced a decline, falling nearly 1% on the day and over 10% in the past week. While Bitcoin has seen fluctuations, recently trading just below $118,000, MARA adopts a HODL strategy, indicating it intends to retain its newly acquired coins rather than selling them immediately. This move reflects a larger trend among companies intensifying their involvement in cryptocurrency markets, leveraging their balances to potentially enhance stock value and long-term gains.

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