Bitcoin miner MARA Holdings Inc (MARA) is looking to sell up to $2 billion in stock to buy more Bitcoin as part of a plan that bears a resemblance to Michael Saylor’s Strategy.
MARA Holdings, formerly Marathon Digital, said in a March 28 Form 8-K and prospectus filed with the Securities and Exchange Commission that it entered into an at-the-market agreement with investment giants, including Cantor Fitzgerald and Barclays, for them to sell up to $2 billion worth of its stock “from time to time.”
“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 added.
MARA’s move copies a tactic made famous by Bitcoin (BTC) bull Saylor, the executive chair of the largest <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/microstrategy-bitcoin-purchases-hodl" rel="null"