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Nasdaq-listed Bitcoin miner MARA is raising $850 million to expand its BTC holdings despite a sharp stock decline. The firm plans to use convertible notes to fund its long-term Bitcoin strategy.
- MARA is the second-largest corporate Bitcoin holder with 50,000 BTC ($5.9 billion) on its balance sheet.
- The $850 million private offering involves 0% convertible senior notes due in 2032, targeting institutional investors.
- Despite the stock dropping 10%, MARA maintains a 25% monthly gain, reflecting market volatility amid its Bitcoin accumulation strategy.
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