Get ready for another big Bitcoin bet from MARA Holdings! This major Bitcoin miner is doubling down on BTC, amassing a $2 billion war chest to do it.

MARA Holdings, known as the largest publicly traded Bitcoin mining operation and formerly Marathon Digital, recently made waves with a public filing. According to Form 8-K and a prospectus submitted to the U.S. Securities and Exchange Commission (SEC), they’ve inked an “at-the-market” (ATM) agreement with some heavy hitters in finance – think Barclays Capital, BMO Capital Markets, BTIG, and Cantor Fitzgerald.

This deal opens the door for MARA to sell up to $2 billion in MARA stock “from time to time.” Where’s that cash going? Straight into “general corporate purposes,” which crucially includes scooping up more Bitcoin and boosting their working capital.

Currently, Bitcoin is trading around $81,416.81, having dipped about 2.4% in the last day, as CoinGecko data reveals. Market watchers suggest investors are reacting to ongoing global tensions and hints that inflation might not be cooling down as hoped.

Even with the broader market caution, MARA’s stock took a hit. Yahoo Finance reports a significant 8.58% drop on March 28th, landing at $12.47 per share. This decline mirrored a wider downturn in crypto mining stocks amidst the uncertain economic landscape.

This latest financial move signals a clear intention from MARA to amplify its Bitcoin treasury strategy – a tactic that’s catching fire across the corporate world. We’re seeing similar moves from GameStop’s $1.3 billion convertible note plan to other major players like Semler Scientific and MetaPlanet in Japan.

This strategy really gained prominence thanks to Michael Saylor’s Strategy Corp (formerly MicroStrategy). They’ve essentially made aggressively stacking Bitcoin a core part of their company DNA.

Right now, Strategy Corp holds the crown among public companies, boasting a massive 506,137 BTC in their treasury. MARA is hot on their heels, holding a substantial 46,374 BTC – which, according to Bitcoin Treasuries data, is worth close to $3.8 billion at today’s prices.

Back in July, MARA’s CEO, Fred Thiel, announced the company was “going full HODL.” This commitment meant they’d be keeping all mined Bitcoin and even strategically buying more on the open market from time to time.

This SEC filing arrives hot on the heels of MARA’s impressive Q4 2024 earnings report. They saw a 37% jump in revenue year-over-year, reaching $214.4 million, and a whopping 248% surge in net income, hitting $528.3 million.

Even though BTC production dipped 27% after last April’s halving, the rising price of Bitcoin powered MARA to exceed expectations, delivering $1.24 in earnings per share.

Edited by Stacy Elliott.