MARA Holdings Joins GameStop, Metaplanet In Bitcoin Reserve Push With $2 Billion Stock Sale

MARA Holdings Inc MARA/USD on Monday announced it sought to raise up to $2 billion through a stock offering to expand Bitcoin BTC/USD reserves

What Happened: The firm submitted paperwork to the U.S. Securities and Exchange Commission, outlining its strategy to sell shares via an at-the-market agreement.

This deal involves prominent financial players like Barclays Capital, BMO Capital Markets, and Cantor Fitzgerald, among others, who will facilitate the sale.

MARA intends to channel the funds into expanding its bitcoin reserves and supporting day-to-day operations.

The company emphasized its long-term vision, stating that its core strategy revolves around mining and holding Bitcoin as a key asset for future growth.

With an existing stash of 46,374 Bitcoin—valued at approximately $3.8 billion at today's prices—MARA already ranks as the second-largest public company holding the cryptocurrency, trailing only behind Michael Saylor's Strategy, which boasts over 506,000 Bitcoin.

Also Read: Peter Schiff Tells Bitcoin ‘Hodlers’ To ‘Get A Clue’ As Gold Outpaces Digital Gold

Why It Matters: In a parallel development, GameStop GME, the video game retailer, recently unveiled its own cryptocurrency ambitions.

Inspired by Strategy's playbook, GameStop plans to raise $1.3 billion through convertible notes to kickstart its Bitcoin purchases.

The company also revealed intentions to tweak its financial strategy, designating Bitcoin as an official reserve asset—a sign that more corporations may soon follow suit in embracing digital currencies.

Meanwhile, Japanese company Metaplanet Inc. will issue its 10th series of ordinary bonds to raise 2 billion yen, approximately $13 million USD at current exchange rates, to acquire more Bitcoin.

The bonds, named the “Metaplanet Inc. 10th Series of Ordinary Bonds,” carry a face value of 50 million yen each and will not bear any interest.

They are set to be issued on March 31 with a redemption date scheduled for Sep. 30.

Metaplanet has outlined that the bonds will be redeemed at their full face value of ¥100 per ¥100 on the redemption date.

However, bondholders can request early redemption at the same rate, provided they submit a written notice to the company at least one business day prior to the desired early redemption date.

Metaplanet has stated that this bond issuance is not expected to significantly impact its consolidated financial results for the fiscal year ending December 2025.

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