MARA Holdings Makes $850M Power Play: Bitcoin Miner Doubles Down on BTC Reserves

Bitcoin just got a half-billion-dollar vote of confidence—from its own miners.

MARA Holdings drops the hammer with capital raise

The publicly traded miner just secured $850 million in fresh funding, with plans to aggressively expand its Bitcoin treasury. While traditional finance scoffs at 'magic internet money,' MARA's betting big on the original crypto—proving once again that the real money flows where Wall Street won't look.

Scaling during the accumulation phase

This isn't some speculative startup gamble. MARA's move signals institutional-grade accumulation—the kind that happens when smart money smells blood in the water. The raise comes as Bitcoin consolidates below all-time highs, suggesting miners are positioning for the next leg up.

Because nothing says 'conviction' like putting $850 million where your ASICs are.

MARA Holdings Looks To Scale Bitcoin Reserves

Bitcoin continues to hit successive record highs, hitting a new all-time high of $123,218 on Binance on July 13. In response, corporate interest in the asset is accelerating.

Today, Nasdaq-listed MARA Holdings announced plans to raise $850 million. According to a filing with the US Securities and Exchange Commission (SEC), the private offering includes a $150 million upsell option, potentially bringing the total raise to $1 billion.

The offering targets qualified institutional investors, who will have the option to convert the notes into cash, MARA equity, or a combination of both. The notes will mature in August 2032.

Investors can also force MARA Holdings to repurchase the notes in 2030 if the company’s stock underperforms. Conversely, the company has the right to redeem the notes starting in January 2030, assuming its stock performs above a specified threshold.

Of the total amount raised, up to $50 million may be used to repurchase a portion of the company’s existing 1% convertible notes due in 2026 – improving MARA’s balance sheet. The remainder will go toward purchasing additional bitcoin and supporting other “general corporate initiatives.”

Despite the announcement, MARA’s stock has declined 8.68% on the day, trading at $17.95 at the time of writing. Still, the stock is up over 7% on a year-to-date (YTD) basis.

According to data from CoinGecko, MARA Holdings currently holds 50,000 BTC in its treasury – worth approximately $5.9 billion – representing about 0.238% of the total Bitcoin supply. While still behind Strategy’s holdings, today’s news will help MARA further solidify its position as the second-largest publicly listed holder of Bitcoin.

Is BTC Heading Toward Supply Shock?

The recent surge in corporate adoption of digital assets – especially BTC – has rekindled speculations about a possible “supply shock” for the leading digital asset. Rapidly growing demand, coupled with declining supply may result in sharp price appreciation for BTC.

In a recent X post, Bitwise CIO Matt Hougan noted that since January 2024, Bitcoin exchange-traded products (ETPs) and corporate treasuries have collectively acquired 1.5 million BTC. During the same period, only 300,000 BTC have been newly mined – highlighting a widening demand-supply imbalance.

In a separate development, France-based Sequans Communications recently added 1,264 BTC to its balance sheet, bringing its total holdings to 2,317 BTC. At press time, Bitcoin is trading at $118,187, down 0.7% over the past 24 hours.