比特币矿业公司Mara Holdings正在推出新的20亿美元公共股票，以购买更多比特币。

这一举动延续了该公司通过加薪将BTC进入公开市场的策略，同时遵守其“ HODL”议程。

Bitcoin mining company MARA Holdings is introducing a new $2 billion public stock offering to buy more Bitcoin.

比特币矿业公司Mara Holdings正在推出新的20亿美元公共股票，以购买更多比特币。

According to a Form 8-K and latest prospectus filed with the U.S. Securities and Exchange Commission (SEC) on Monday, MARA (NYSE: MARA) has entered into an at-the-market (ATM) equity program with a group of investment banks.

根据周一向美国证券交易委员会（SEC）提交的8-K和最新招股说明书，Mara（NYSE：MARA）已与一组投资银行一起签署了一项在市场上（ATM）权益计划。

The banks, acting as agents, are Barclays, BMO Capital Markets, BTIG, and Cantor Fitzgerald. Together, they will be selling shares of MARA Holdings from time to time at the company’s discretion.

银行充当代理商，是巴克莱，BMO资本市场，BTIG和Cantor Fitzgerald。他们将共同酌情出售Mara Holdings的股票。

The proceeds of the offering will be used mainly for the acquisition of Bitcoin in the open market.

发行的收益将主要用于在公开市场上收购比特币。

“We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital,” MARA said in its prospectus.

玛拉在其招股说明书中说：“我们目前打算将此产品的净收益用于一般公司目的，包括收购比特币和营运资金。”

The company, which specializes in finance services and has a market capitalization of $4.7 billion, maintains a strong liquidity position with a current ratio of 4.94, indicating its ability to meet short-term obligations.

该公司专门从事金融服务，市值为47亿美元，其流动性地位保持较强，目前的比率为4.94，表明其能够履行短期义务。

The shares’ sale will be conducted through methods deemed to be an “at the market offering” or through other methods upon agreement. The agents are entitled to a commission of up to 3% of the gross proceeds from each sale.

股票的销售将通过被认为是“市场产品”的方法或通过协议时的其他方法进行。代理商有权从每次销售中获得多达3％的总收益的佣金。

Simultaneously, MARA Holdings has revoked its at-the-market offering agreement dated October 24, 2023, which authorized the sale of up to $1.5 billion in common stock. No additional sales will take place under the previous agreement or its related prospectus supplement.

同时，玛拉·控股（Mara Holdings）撤销了2023年10月24日的在市场上的商定协议，该协议授权出售高达15亿美元的普通股。根据先前的协议或其相关招股说明书补充剂，不会进行额外的销售。

The firm has made it clear that this filing does not constitute an offer to sell the shares, and no sales will occur in states where such an offer or sale would be unlawful prior to registration or qualification under the securities laws of such state.

该公司明确表示，该文件不构成出售股票的要约，并且根据该州的证券法，在注册或资格之前将在此类要约或销售的州不会发生任何销售。

MARA’s current moves follow Michael Saylor’s playbook of issuing equity and convertible bonds to accumulate Bitcoin in the open market. The miner now has 46,376 BTC in its treasury—the second most among publicly listed firms, only behind MicroStrategy’s 506,137 BTC.

玛拉（Mara）目前的举动遵循迈克尔·塞勒（Michael Saylor）的发行股权和可转换债券的剧本，以在公开市场中累积比特币。该矿工现在拥有46,376个BTC的财政部，这是公开上市的第二大公司，仅次于Microstrategy的506,137 BTC。

Despite being a Bitcoin miner, MARA has increasingly relied on buying Bitcoin on the open market. The company adopted this strategy last year amid recognition that mining BTC at a discount to the spot price was becoming increasingly difficult.

尽管是比特币矿工，但玛拉越来越依赖在公开市场上购买比特币。该公司去年采取了这一战略，因为人们认识到以折扣现货价格销售BTC变得越来越困难。

The industry has come under tremendous pressure following the latest Bitcoin halving event, which halved the rewards for mining and pressured profit margins against surging operational costs. This means that acquiring Bitcoin from the open market has become a comparatively better strategy for miners.

在最新的比特币减半事件之后，该行业承受着巨大的压力，这使采矿和压力的利润率减半了，以至于不利于运营成本。这意味着，从公开市场中获取比特币已成为矿工的相对更好的策略。

MARA’s action comes at a time when Bitcoin has been subject to increased volatility but ever-strong institutional interest. The last five years have seen MARA Holdings deliver a very large total shareholder return of 2881.63%, reflecting significant strides in transforming its business strategy.

玛拉（Mara）的行动是在比特币受到波动增加但机构兴趣增加的时候。在过去的五年中，Mara Holdings的总股东回报率为2881.63％，这反映了改变其业务战略的重大进展。