Marathon Digital Unveils $2B Stock Sale to Expand Bitcoin Reserves
Marathon Digital Holdings (MARA), one of the most prominent names in the bitcoin mining space, is set to raise up to $2 billion through a new stock offering aimed at boosting its bitcoin war chest.
The company announced on Monday that it has entered an at-the-market (ATM) equity distribution agreement with a group of financial institutions, including Barclays, BMO Capital Markets, BTIG, and Cantor Fitzgerald. Under the plan, shares will be sold over time, with proceeds earmarked primarily for bitcoin purchases and general corporate use.
“We intend to allocate the majority of funds raised toward acquiring more bitcoin and supporting ongoing operational needs,” Marathon stated in its SEC filing.
This latest offering follows a similar $1.5 billion ATM program and signals the firm’s continued commitment to its “Hodl and accumulate” strategy, echoing the bitcoin-buying blueprint popularized by MicroStrategy’s Michael Saylor.
Marathon currently holds 46,376 BTC, making it the second-largest bitcoin holder among publicly listed companies, trailing only MicroStrategy.
With last year’s bitcoin halving slashing mining rewards and pushing up operating costs, Marathon’s decision to acquire BTC directly from the market rather than rely solely on mining appears to be a calculated hedge—and a bold bet on bitcoin’s long-term value.
