Bitcoin miner MARA Holdings is making bold moves. According to a recent announcement, the company is all set to raise $850 million to expand its Bitcoin holdings and support other initiatives.
MARA Holdings plans to raise $850 million through a private offering of zero-interest convertible notes due in 2032. These notes can later be converted into cash, MARA stock, or a mix of both. An extra $150 million may also be offered depending on demand.
Out of the funds raised, $50 million could go toward buying back some of MARA’s older debt (1% notes due 2026). The rest will be used for buying more Bitcoin, general business needs, and possibly paying down other debts or funding strategic growth.
Already holding over 50,000 BTC, MARA is doubling down on its crypto bet. MARA is the second-largest public company holding Bitcoin, just behind Microstrategy, which holds over 600,000 BTC.
Bitcoin recently hit an all-time high of $123,000, but has slipped back to around $116K. However, large institutions are not backing off and continue to invest heavily, showing strong confidence in its long-term potential.
Credit: Source link