Bitcoin Mining Company Mara Holdings (Mara) launches a new $ 2 billion share offering to buy more Bitcoin and continue its plan to buy BTC in the open market through capital increase while sticking to its “HODL” strategy.

According to a Form 8-K and a new prospectus submitted to the US Securities and Exchange Commission (SEC), Mara entered into a stock market (ATM) share program with a group of investment banks including Barclays, BMO Capital Markets, Bigt, Cantor Fitzgerald and others. The revenue from the offer, which from time to time will see brokers selling shares in the miner will be used to acquire Bitcoin in the open market.

“We are currently intending to use the net proceeds from this offer to general business purposes, including the acquisition of Bitcoin and to working capital,” Mara said in her prospectus.

This new fresh share sales plan follows a previous ATM offering that targeted up to $ 1.5 billion for the miner.

Mara has adopted Michael Saylor’s strategy to raise money through equity and convertible bond offerings and buy Bitcoin in the open market. The miner now has 46,376 BTC in its treasury, making it the second largest Bitcoin-Stash among publicly traded companies behind the strategy’s 506,137 BTC.

The plan to buy Bitcoin in the open market was adopted by the miner last year, although a miner theoretically my Bitcoin can at a discount on the spot price. The industry was challenging after last year’s halving of cut mining of half and pushing the profit margins on the basis of rising costs. This made the purchase of Bitcoin in the open market along with mining, a relatively better strategy for miners.
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