MARA Holdings, a leading Bitcoin mining company, announced its plan to raise $850 million to purchase more Bitcoin, triggering a significant drop in its stock price by over 10%. The company will issue zero percent convertible senior notes due in 2032, targeting institutional investors. This decision aligns with MARA's strategy of maintaining its crypto holdings without selling them, emphasizing a buy-and-hold approach. With a reported 50,000 BTC on its balance sheet, valued at approximately $5.9 billion, MARA is one of the largest corporate holders of Bitcoin. The stock reaction follows Bitcoin's recent fluctuations in value, with the cryptocurrency trading around $117,756. Despite the drop, MARA's stock is still up 25% over the past month. The company’s strategy comes at a time when public financial entities are acquiring substantial amounts of Bitcoin, reflecting optimism about the asset's long-term value.

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