MAR, known as Marathon Digital, has announced its intention to issue and sell shares worth $2 billion. These funds will be directed towards purchasing the leading cryptocurrency as well as replenishing working capital.
This is reported by Finway
According to the press release, on March 28, 2025, MAR entered into an agreement with several financial institutions, including Barclays, BMO Capital Markets, Cantor Fitzgerald, and others, regarding the placement of shares on the open market.
«Under this agreement, we can offer and sell our common shares for up to $2 billion (at a price of $0.0001 per share)», the statement reads.
Additionally, the proceeds may be used to acquire new servers for Bitcoin mining, as well as to expand the company’s assets, repay debt, and meet other financial obligations.
At the time of writing, the price of Bitcoin is approximately $82,000 on the Binance exchange, allowing MAR, if it uses all $2 billion to purchase Bitcoins, to increase its portfolio by about 24,390 BTC. It is worth noting that at the end of 2024, the company had already announced the purchase of 15,574 BTC for $1.53 billion.