MARA Holdings Inc. Goes All-In on Bitcoin with $2 Billion Stock Offering

Bold Move to Fund More BTC Purchases

MARA Holdings Inc. is pulling out all the stops, planning to offer a whopping $2 billion worth of its stock to fuel its insatiable appetite for Bitcoin. This Florida-based mining powerhouse is not messing around!

Teaming Up with Big Players

In a bombshell March 28 Form 8-K filing with the Securities and Exchange Commission, MARA dropped the news that it's joining forces with some heavy-hitting investment firms to sell shares "from time to time" through a new at-the-market offering. They're playing it cool, but you know they mean business.

BTC on the Brain

The company's accompanying prospectus spills the beans that the cash will go toward general corporate purposes, but let's be real - buying more Bitcoin is at the top of their wish list. They're not shy about it!

Big Names, Big Moves

According to the prospectus, MARA might be selling its stock through powerhouses like Barclays, Cantor Fitzgerald, and Guggenheim Securities. We're talking direct sales on Nasdaq or some slick negotiated transactions. These guys are pulling out all the stops!

Flexibility is Key

This offering is giving MARA the ultimate flexibility to tap into the market whenever they feel like it, with no set timeline or volume commitment. They're playing it smart and keeping their options wide open.

Shares Take a Dip

As of March 30, MARA shares were trading at $11.89, down 4.6% in overnight trading after an 8.6% drop on March 28. But don't let that fool you - these guys are in it for the long haul.

HODL Like There's No Tomorrow

MARA is already sitting pretty with over 46,000 BTC worth nearly $4 billion, and this latest move just screams "full HODL" strategy. They're not just mining Bitcoin; they're buying more to stockpile for the long game. It's a bold move, but that's what MARA does best!

Following in Big Footsteps

This latest offering comes hot on the heels of a $1.5 billion ATM program launched last year and a $1 billion zero-coupon convertible note sale in November, all aimed at beefing up their Bitcoin stash. MARA is second only to Strategy in corporate Bitcoin holdings, and they're not afraid to follow in Michael Saylor's footsteps. His firm just unveiled plans to raise up to $21 billion via its STRK preferred stock offering as part of its "21/21" roadmap. The game is on!

Riding High on Profits

MARA's plans to stack up more Bitcoin come after a killer run in Q4 2024. They raked in $214.4 million in revenue, up 37% from the previous quarter, and ended the year with a net income of $528.3 million - a mind-blowing 248% jump year-over-year. Adjusted EBITDA surged 207% to $794.4 million, setting a new standard for the mining sector. These guys are on fire!

Powering Up with Wind

Last month, MARA also closed the deal on a wind farm in Hansford County, Texas. This bad boy offers 114 megawatts of wind power and 240 MW of interconnection capacity, and they snapped it up to keep their older mining rigs humming. They're not just about the Bitcoin; they're thinking green, too!