MARA Stock Dives as Bitcoin Miner Reveals Plan to Raise $850 Million to Buy More BTC
Main Idea
Bitcoin miner MARA is raising $850 million to purchase more Bitcoin, despite a recent drop in its stock price.
Key Points
1. MARA plans to raise $850 million through a private offering to buy more Bitcoin, as per an SEC filing.
2. The company's stock fell over 10% to $17.80 per share, though it remains up 25% over the last month.
3. MARA holds 50,000 BTC ($5.9 billion at current prices) and follows a 'HODL strategy,' avoiding selling newly mined coins.
4. Bitcoin's price was recently $117,782, down 1% over 24 hours.
Description
Bitcoin miner MARA Holdings plans to raise $850 million through a private sale to buy more BTC—and its stock has fallen 10% on the day.
$BTC
$117118.4
-1.53%
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