Marathon Digital Holdings旨在以20亿美元的股票扩大比特币储备

美国最大的比特币矿业公司之一Marathon Digital Holdings的目标是通过耗资20亿美元的股票来扩大其比特币储备。

Marathon Digital Holdings Inc (NASDAQ:MARA) is planning a $2 billion stock offering as part of its broader strategy to expand its Bitcoin reserves and strengthen its balance sheet. The move is part of a broader trend among businesses to increase their Bitcoin holdings as a long-term store of value, similar to the approach taken by MicroStrategy Inc (NASDAQ:MSTR).

Marathon Digital Holdings Inc（NASDAQ：MARA）计划提供20亿美元的股票，作为其扩大比特币储备并加强资产负债表的更广泛战略的一部分。此举是企业中更广泛的趋势的一部分，以增加其比特币持有量作为长期价值存储，类似于Microstrategy Inc（NASDAQ：MSTR）采取的方法。

What Happened: Marathon Digital is aiming to sell its shares through an at-the-market (ATM) stock offering program. The company received approval from the Securities and Exchange Commission (SEC) to carry out the offering, according to a recent Form 8-K filing.

发生的事情：Marathon Digital的目标是通过市场（ATM）股票产品出售其股票。根据最近的8-K文件，公司获得了证券交易委员会（SEC）的批准，以进行发行。

The funds generated from the stock offering will be used primarily for purchasing additional Bitcoin and for general operational needs, as disclosed in Form 424B5.

从股票产品中产生的资金将主要用于购买其他比特币和一般运营需求，如424B5表格所披露的那样。

As of the latest reports, Marathon holds 46,376 BTC, making it the second-largest publicly traded company in terms of Bitcoin reserves, following MicroStrategy.

截至最新报告，马拉松持有46,376 BTC，这使其成为比特币储备的第二大公共交易公司，仅次于MicroStrategy。

Earlier this year, Marathon rapidly increased its Bitcoin holdings from 13,726 BTC at the start of 2024. The company is also known for employing strategies such as forward or option contracts and Bitcoin lending to maximize yield on its digital asset holdings.

今年早些时候，马拉松迅速将其比特币持有量从2024年初的13,726 BTC提高了。该公司还以采用远期或期权合同和比特币贷款等策略而闻名，以最大程度地利用其数字资产持有量。

Related Link: Exclusive: Marathon Digital's Fred Thiel On Bitcoin Miners' Woes, Why BTC Is A Better Investment Than Real Estate And More

相关链接：独家链接：马拉松数字数字上的弗雷德·泰尔（Fred Thiel）在比特币矿工的困境中，为什么BTC比房地产更好的投资更好

Why It’s Important: Marathon’s strategy aligns closely with that of MicroStrategy, a software company that has been actively buying Bitcoin and see its stock price rise in tandem with Bitcoin.

为什么重要的是：Marathon的策略与MicroStrategy的策略紧密相吻合，Microstrategy是一家正在积极购买比特币的软件公司，并看到其股价与比特币同时上涨。

In March, Marathon disclosed plans to invest up to $1 billion in expanding its Bitcoin mining operations. The company is aiming to capitalize on the potential of Bitcoin as a long-term investment, despite the recent volatility in cryptocurrency markets.

3月，Marathon透露了计划投资高达10亿美元来扩大其比特币采矿业务的计划。该公司的目标是利用比特币作为长期投资的潜力，尽管最近在加密货币市场上发生了波动。

Topical Risk: The $2 billion stock offering will likely result in the dilution of existing shareholders’ ownership as new shares are issued. This dilution could impact the company’s stock price. As of March 31, 2025, Marathon’s stock is trading at around $12.47 per share, down from its 52-week high of $24.

局部风险：随着新股份发行新股份，这20亿美元的股票发行可能会导致现有股东的所有权稀释。这种稀释可能会影响公司的股价。截至2025年3月31日，马拉松股票的交易价格约为每股12.47美元，低于其52周高点24美元。

Moreover, Marathon’s significant reliance on Bitcoin exposes the company to the inherent volatility of cryptocurrency prices. A substantial decline in Bitcoin’s price would decrease the value of Marathon’s Bitcoin holdings, potentially putting pressure on the company’s financial position and affecting its ability to meet its operational needs and continue buying more Bitcoin.

此外，马拉松对比特币的重大依赖使公司揭示了加密货币价格的固有波动。比特币价格的大幅下降将降低马拉松比特币持有量的价值，这可能会对公司的财务状况施加压力，并影响其满足其运营需求并继续购买更多比特币的能力。

Last Statement: Marathon Digital Holdings Inc is making a significant push into Bitcoin mining with a new $2 billion stock offering. This move is part of a broader strategy to expand the company’s cryptocurrency holdings and capitalize on the digital asset's long-term growth potential.

最后声明：Marathon Digital Holdings Inc正在以新的20亿美元股票提供比特币开采的重大推动。此举是扩大公司的加密货币持有并利用数字资产的长期增长潜力的更广泛战略的一部分。

The company, already one of the largest Bitcoin miners in the U.S., plans to use the funds to buy more Bitcoin and support its operational needs. This decision comes as several companies, including MicroStrategy Inc (NASDAQ:MSTR), have been increasing their Bitcoin positions.

该公司已经是美国最大的比特币矿工之一，计划使用资金购买更多比特币并支持其运营需求。这一决定是因为包括Microstrategy Inc（NASDAQ：MSTR）在内的几家公司一直在提高其比特币头寸。

Marathon’s اقدام to diversify its asset portfolio and strengthen its balance sheet in the face of the growing cryptocurrency market becomes even more apparent with this new stock offering.

Marathon的ZIDYقQul多样化其资产组合并在面对日益增长的加密货币市场的情况下加强其资产负债表变得更加明显。