MARA, formerly known as Marathon Digital, has announced its intention to issue and sell shares worth $2 billion. These funds are planned to be used for purchasing bitcoins as well as for replenishing working capital.
This is reported by Business • Media
According to a press release, on March 28, 2025, the company entered into an agreement with several financial institutions, including Barclays, BMO Capital Markets, and Cantor Fitzgerald, regarding the placement of shares on the open market.
“Under this agreement, we can offer and sell our common shares for up to $2 billion (at a price of $0.0001 per share).”
Additionally, the funds raised may be directed towards acquiring additional mining servers, as well as acquiring businesses, expanding existing assets, repaying debts, and other financial obligations.
At the time of writing, the first cryptocurrency is trading near the $82,000 mark on the Binance exchange. If MARA decides to use the entire $2 billion for purchasing bitcoins, the company could add approximately 24,390 BTC to its portfolio.
It is worth noting that at the end of 2024, MARA announced the acquisition of 15,574 BTC for $1.53 billion.