MARA Holdings, a prominent Bitcoin mining company, has conducted a $950 million offering of convertible senior notes due in 2032, significantly boosting its capital for Bitcoin acquisition. With approximately $940.5 million in net proceeds anticipated, the funds will primarily be utilized to purchase more Bitcoin, in addition to retiring existing notes and supporting general corporate initiatives. MARA currently holds around 50,000 BTC, valued at nearly $6 billion, making it the second-largest Bitcoin holder among public companies. The offering might expand to $1.15 billion if underwriters opt for full exercise. The company has a history of accumulating its mined Bitcoin rather than selling it, aligning with its long-term strategy. Shares of MARA experienced a slight decline of 0.52%, with earnings expected to be reported on August 7.

Source đź”—