比特幣採礦負責人瑪拉·控股（Mara Holdings）宣布了20億美元的股票，以增加其儲量

比特幣礦業領導人Mara Holdings Inc.宣布了一筆20億美元的股票，以增加其儲量。

Major bitcoin (BTC) mining leader MARA Holdings Inc (NASDAQ:MARA) announced a significant capital-raising initiative with a planned stock offering of up to $2 billion. The company, renowned for its ‘full HODL’ approach to bitcoin, will use the offering to further increase its bitcoin reserves.

少校比特幣（BTC）礦業領導人Mara Holdings Inc（NASDAQ：MARA）宣布了一項重大的資本投資計劃，計劃提供高達20億美元的股票。該公司以其對比特幣的“完整HODL”方法而聞名，將利用該產品進一步增加其比特幣儲備。

What Happened: MARA disclosed its plans for the at-the-market (ATM) offering in a March 28 Form 8-K filing with the U.S. Securities and Exchange Commission.

發生了什麼：Mara在3月28日向美國證券交易委員會提交的8-K申請中披露了其在市場上（ATM）發行的計劃。

The capital raising will be managed by several major financial institutions including Barclays (NYSE:BCS), Cantor Fitzgerald and Guggenheim Securities. The ATM structure allows for more flexibility in share sales compared to traditional offerings, providing the company with the capability to sell shares when needed without a set schedule.

籌集資金將由包括巴克萊（NYSE：BCS），Cantor Fitzgerald和Guggenheim Securities等幾家主要金融機構管理。與傳統產品相比，ATM結構可以在股票銷售額方面具有更大的靈活性，從而為公司提供了在沒有設定計劃的情況下出售股票的能力。

The offering will be used primarily to fund bitcoin purchases, highlighting MARA’s strong commitment to its cryptocurrency strategy.

該產品將主要用於資助比特幣購買，強調瑪拉對其加密貨幣戰略的堅定承諾。

Why It’s Important: MARA’s move to raise capital comes as several publicly traded firms are increasingly adding bitcoin to their corporate treasury strategies. Similar to Strategy’s (NASDAQ:STGY) successful bitcoin treasury plan, which has seen the company accumulate over 506,000 bitcoin, MARA is using capital-raising instruments like stock offerings and convertible bonds to expand its bitcoin holdings.

為什麼重要的是：瑪拉籌集資金的舉動是因為幾家公開交易的公司越來越多地增加了比特幣的公司國庫策略。與戰略（NASDAQ：STGY）成功的比特幣國庫計劃相似，該計劃已經積累了506,000多名比特幣，Mara正在使用股票產品和可轉換債券等資本籌集的工具來擴大其比特幣持有量。

Earlier this year, MARA received approval for a new $1.5 billion ATM program and completed a $1 billion convertible note offering in November to support the expansion of its bitcoin reserves. These efforts will be instrumental in executing its bitcoin accumulation strategy.

今年早些時候，Mara獲得了一項新的15億美元ATM計劃的批准，並在11月完成了10億美元的可轉換票據，以支持其比特幣儲備的擴建。這些努力將有助於執行其比特幣積累策略。

In its recent prospectus for the capital raising, MARA stated that the funds will support general corporate needs, which includes expanding its bitcoin treasury. This underscores the company’s strong focus on bitcoin adoption within its broader financial strategy.

瑪拉在最近籌集資金的招股說明書中表示，這些資金將支持一般的公司需求，其中包括擴大其比特幣財政部。這強調了該公司在更廣泛的財務戰略中的強烈關注對比特幣採用。

The Impact: MARA’s capital-raising activities highlight the significant industry shift toward direct bitcoin purchases by miners in 2024. This contrasts with the previous period, particularly after the last bitcoin halving event in 2020, where miners focused more on accumulating the cryptocurrency through mining operations.

影響：瑪拉（Mara）的資本累積活動強調了礦工在2024年向直接購買比特幣購買的重大行業。這與上一時期形成鮮明對比，尤其是在2020年最後一次比特幣減半事件之後，礦工更多地集中於通過挖掘業務積累加密貨幣。

However, with the reduced mining rewards and increased operational costs, some miners are finding it more cost-effective to raise capital and buy bitcoin directly.

但是，隨著採礦獎勵的減少和運營成本的增加，一些礦工發現直接籌集資金和購買比特幣更具成本效益。

This hybrid approach helps in managing the inherent volatility in bitcoin mining and allows miners like MARA to quickly increase their holdings according to market conditions. As energy costs rise and block rewards diminish, miners are being forced to adapt to remain competitive.

這種混合方法有助於管理比特幣採礦中固有的波動性，並使像Mara這樣的礦工可以根據市場條件快速增加其持股。隨著能源成本的上升和阻止獎勵的減少，礦工被迫適應保持競爭力。

Now: MARA shares are up over 250% year-to-date and closed Friday’s session at $23.74.

現在：Mara股票年初至今已超過250％，週五的股票上漲了23.74美元。