“The Company, Which Has The Second-Largest Bitcoin Stash Among Publicly-Traded Companies, Could Use The Funds to Finance Further BTC Acquisitions.”, – WRITE: www.coindesk.com
ACCORDING TO A FORM 8-K AND A New PROSPECTUS FILED WITH The US Securities and Exchange Commission (SEC), Mara Entered Into An at-The-Market Barclays, BMO Capital Markets, BTIG, CANTOR FITZGERALD, AND OTHERS. The Proceeds of the Offering, Which Will See Brokers Selling Shares of the Miner from Time to Time, Will Be Used Mainly for the Acquisition of Bitcoin in the Open Market.
“We Currently Intend to Use The Net Proceeds from this Offering for General Corporate Purposes, Including the Acquisition of Bitcoin and for Working Capital,” Mara said in iTS.
This New Fresh Stock Sales Plan Follows A Previous Atm Offering that Targeted Up to $ 1.5 Billion for the Miner.
Mara Has Adopted Michael Saylor’s Strategy of Raising Funds Through Equity and Convertible Bond Offers and Buying Bitcoin in the Open Market. The Miner Now Holds 46.376 BTC in Itasury, Making It The Second-Largest Bitcoin Stash Among Publicly Traded Companies, Behind Strategy’s 506.137 BTC.
The plans to buy Bitcoin in the Open Market Was Adepted by the Miner Last Year, Even Thought A Miner Can Theoretical Mine Bitcoin at A Discount To The Spot Price. The Industry Became Challenging After Last Year’s Halning Cut Mining Rewards by Half, SQueezing Profit Margins on the Back of Rising Costs. This Made Buying Bitcoin in the Open Market, Alongside Mining, A Relative Better Strategy for the Ministry.
Read More: Bitcoin Mining Is So Round A Miner Adopted Michael Saylor’s Successful BTC Strategy
