MARA Holdings Doubles Down on Bitcoin Bet with $20M Strategic Move into Two Prime

MARA Holdings just turbocharged its Bitcoin playbook—dropping a cool $20 million on a stake in crypto finance firm Two Prime. Here’s why it matters.

The Big Swing

No half-measures here. MARA’s latest move screams confidence in Bitcoin’s institutional future—and throws shade at traditional finance’s sluggish adoption. Two Prime’s structured crypto products just got a heavyweight backer.

Follow the Money

That $20M isn’t just parked—it’s a calculated bet on Bitcoin’s maturation beyond volatile trading. Think yield strategies, institutional-grade liquidity, and (of course) the relentless hunt for alpha. Wall Street’s still debating ETFs while crypto builders cash in.

The Bottom Line

MARA’s playing chess while legacy finance plays checkers. Whether this fuels Bitcoin’s next rally or just lines pockets, one thing’s clear: the smart money’s building—not waiting.

TLDR

• MARA Holdings has invested $20 million in institutional investment adviser Two Prime.
• The investment increases MARA Holdings’ Bitcoin allocation from 500 BTC to 2,000 BTC.
• The additional Bitcoin will be managed in a Separately Managed Account to generate yield.
• MARA Holdings aims to activate its Bitcoin treasury rather than holding it passively.
• Two Prime is registered with the U.S. SEC and focuses on institutional Bitcoin strategies.

MARA Holdings has taken a strategic step by investing $20 million in Two Prime, a registered institutional investment adviser. This move significantly increases MARA Holdings’ Bitcoin allocation from 500 BTC to 2,000 BTC under Two Prime’s management. The Bitcoin assets will be actively managed in a Separately Managed Account (SMA) to generate yield.

📰 @MARA Leads $20 Million Investment in Two Prime to Advance Institutional bitcoin Yield Strategies and Expands SMA to 2,000 BTC

Read more below https://t.co/2sf99yc8HV

— Two Prime (@Two_Prime) July 15, 2025

The company continues to diversify its treasury strategy while facing declining mining margins after the recent Bitcoin halving. Although MARA Holdings recorded a 30% revenue increase in Q1, net losses reached $533 million, adding pressure on profitability. To counter this, the firm is activating its Bitcoin reserves through institutional partnerships.

This latest decision aligns with MARA Holdings’ broader strategy to optimize asset performance beyond simple holding. It also positions the company to benefit from the evolving role of Bitcoin on corporate balance sheets. The shift toward active asset deployment reflects a calculated response to market volatility and reduced mining rewards.

Two Prime Partnership Signals Institutional Shift

Two Prime now manages 2,000 BTC for MARA Holdings, quadrupling the previous allocation and indicating rising institutional confidence. The firm offers strategies tailored to institutional-grade risk management, aligning with MARA Holdings’ need for stable returns. The SMA structure allows greater control and flexibility in generating yield from Bitcoin.

MARA Holdings seeks to enhance capital efficiency by transitioning from passive holding to income-generating strategies. The company’s CFO noted this shift reflects a commitment to activating its Bitcoin holdings under expert guidance. This positions the firm to adapt faster to changing market dynamics without over-relying on mining revenue.

Two Prime, regulated by the U.S. SEC, specializes in structured crypto exposure for professional investors. Its CEO stated that MARA Holdings’ investment signals a trend toward institutionally compliant Bitcoin strategies. This strategic alignment reflects increased demand for transparent, yield-focused products in the digital asset space.

MARA Holdings Faces Post-Halving Mining Challenges

MARA Holdings is navigating a tough operating environment after the recent Bitcoin halving reduced mining rewards by half. While revenue ROSE to $214 million in Q1, escalating energy and equipment costs cut into profits. The firm’s decision to expand its Bitcoin treasury comes amid shrinking margins in mining.

The broader mining industry is also adjusting, with firms like Core Scientific and HIVE Digital repurposing infrastructure for AI data center hosting. MARA Holdings has not announced similar plans but appears focused on treasury expansion as a growth path. This dual-track strategy may offer resilience in a changing digital asset economy.

Core Scientific’s future in mining remains unclear after its $9 billion acquisition by CoreWeave. The new ownership may reduce crypto operations, signaling further disruption in the sector. MARA Holdings, however, continues to bet on Bitcoin as a strategic reserve asset.

Treasury Strategies Face Growing Scrutiny

Recent analysis has raised doubts about the long-term success of corporate Bitcoin treasury models. Glassnode’s lead analyst warned that early gains may not be replicable for new entrants. Concerns focus on diminishing returns as Bitcoin’s market matures and volatility persists.

Matthew Sigel from VanEck criticized share dilution risks from at-the-market equity programs. He argued that such strategies could reduce shareholder value if stock prices fall below Bitcoin net asset value. MARA Holdings has used similar methods but remains committed to growing its holdings.

Meanwhile, Michael Saylor’s firm faces a class action lawsuit over its Bitcoin strategy. Pomerantz LLP alleges misleading disclosures about investment risks and profitability. MARA Holdings has not commented on the case but continues to expand its own Bitcoin-focused operations.