MARA Bitcoin Mining Company Raises Nearly $1 Billion to Boost BTC Purchases

The Nasdaq-listed Bitcoin mining company, #MARA (formerly Marathon Digital), has just completed a private placement raising the scale to $950 million (initially planned for $850 million) to purchase more Bitcoin. This move helps MARA solidify its position as the second-largest Bitcoin holder among companies.

"HODL" Strategy and Expanding Bitcoin Holdings

MARA has raised this amount by selling zero-interest convertible bonds maturing in 2032 to institutional investors. The company is adopting a strategy similar to that of Strategy (MicroStrategy), using debt to accumulate Bitcoin in order to drive stock prices. Currently, MARA holds 50,000 $BTC , valued at approximately $5.8 billion, second only to Strategy in terms of Bitcoin in corporate treasury. Although MARA's stock has recently seen a slight decline, the company remains steadfast in its "HODL" (hold) strategy and has stated that it will not sell the newly mined Bitcoin.

Amidst Bitcoin miners facing numerous challenges after the Halving event and a fiercely competitive environment, MARA's active fundraising to continue buying and holding Bitcoin demonstrates strong confidence in the long-term potential of this digital currency. Some other mining companies have shifted towards accumulating Ethereum or AI projects, but MARA continues to uphold its commitment to Bitcoin.