比特币采矿负责人玛拉·控股（Mara Holdings）宣布了20亿美元的股票，以增加其储量

比特币矿业领导人Mara Holdings Inc.宣布了一笔20亿美元的股票，以增加其储量。

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.

少校比特币（BTC）矿业领导人Mara Holdings Inc（NASDAQ：MARA）宣布了一项重大的资本投资计划，计划提供高达20亿美元的股票。该公司以其对比特币的“完整HODL”方法而闻名，将利用该产品进一步增加其比特币储备。

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.

发生了什么：Mara在3月28日向美国证券交易委员会提交的8-K申请中披露了其在市场上（ATM）发行的计划。

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.

筹集资金将由包括巴克莱（NYSE：BCS），Cantor Fitzgerald和Guggenheim Securities等几家主要金融机构管理。与传统产品相比，ATM结构可以在股票销售额方面具有更大的灵活性，从而为公司提供了在没有设定计划的情况下出售股票的能力。

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

该产品将主要用于资助比特币购买，强调玛拉对其加密货币战略的坚定承诺。

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.

为什么重要的是：玛拉筹集资金的举动是因为几家公开交易的公司越来越多地增加了比特币的公司国库策略。与战略（NASDAQ：STGY）成功的比特币国库计划相似，该计划已经积累了506,000多名比特币，Mara正在使用股票产品和可转换债券等资本筹集的工具来扩大其比特币持有量。

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.

今年早些时候，Mara获得了一项新的15亿美元ATM计划的批准，并在11月完成了10亿美元的可转换票据，以支持其比特币储备的扩建。这些努力将有助于执行其比特币积累策略。

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.

玛拉在最近筹集资金的招股说明书中表示，这些资金将支持一般的公司需求，其中包括扩大其比特币财政部。这强调了该公司在更广泛的财务战略中的强烈关注对比特币采用。

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.

影响：玛拉（Mara）的资本累积活动强调了矿工在2024年向直接购买比特币购买的重大行业。这与上一时期形成鲜明对比，尤其是在2020年最后一次比特币减半事件之后，矿工更多地集中于通过挖掘业务积累加密货币。

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，随着采矿奖励的减少和运营成本的增加，一些矿工发现直接筹集资本和购买比特币更具成本效益。

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.

这种混合方法有助于管理比特币采矿中固有的波动性，并使像Mara这样的矿工可以根据市场条件快速增加其持股。随着能源成本的上升和阻止奖励的减少，矿工被迫适应保持竞争力。

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

现在：Mara股票年初至今已超过250％，周五的股票上涨了23.74美元。