MARA Holdings Successfully Raises $950 Million to Purchase More Bitcoin

BlockBeats News, July 28th, according to The Block, Marathon Patent Group, the publicly traded mining firm with the most Bitcoin holdings globally (Nasdaq: MARA), announced on Monday that it has completed a $950 million private convertible senior notes offering. According to the announcement, the offering raised approximately $940.5 million in net proceeds, which will be primarily used to acquire more Bitcoin and for general corporate purposes.

Marathon Patent Group currently holds 50,000 bitcoins, valued at nearly $6 billion at current market prices, making it the second-largest publicly traded company by Bitcoin holdings, behind only MicroStrategy, which holds 607,770 bitcoins (worth over $72 billion).