Marathon Digital Holdings（MARA）推出了20亿美元的市场（ATM）股票，以资助比特币收购

Marathon Digital Holdings（MARA）宣布，推出了20亿美元的市场（ATM）股票，以资助其购买更多比特币的策略。

"The company, one of the largest Bitcoin miners in the U.S., said it will sell shares to raise the capital, which will be used mainly to increase its Bitcoin holdings. The move follows the company’s previous successful offering, which raised $1.4 billion to support similar goals.

“该公司是美国最大的比特币矿工之一，他表示将出售股票以筹集资金，该股票将主要用于增加其比特币持有量。此举是在该公司以前的成功发行之后的，该产品筹集了14亿美元以支持类似的目标。

Marathon Digital (NASDAQ:MARA) announced plans for a $2 billion at-the-market (ATM) stock offering to fund its strategy of acquiring more Bitcoin (BTC).

Marathon Digital（NASDAQ：MARA）宣布了计划提供20亿美元市场（ATM）股票的计划，以资助其收购更多比特币（BTC）的策略。

The company, known for its large-scale Bitcoin mining operations, will be selling shares to raise the capital, with the majority of the proceeds going towards increasing its Bitcoin holdings.

该公司以大规模的比特币采矿业务而闻名，将出售股票以筹集资金，其中大多数收益用于增加其比特币持有量。

The move follows the company’s successful offering last year, where it sold convertible bonds and stock to raise $1.4 billion, which was also used to buy more Bitcoins and support other initiatives.

此举是在该公司去年成功发行之后的，在该公司将可转换债券和股票出售以筹集14亿美元，该债券也用于购买更多比特币并支持其他计划。

The new equity program will see several investment firms, including Barclays and BMO Capital Markets, facilitate the selling of shares. Of the total funds raised, 40% will be allocated to purchasing more Bitcoins, 35% will go towards general corporate purposes, and the remaining 25% will be used for working capital.

新的股权计划将有几家投资公司，包括巴克莱和BMO资本市场，促进股票的销售。在筹集的总资金中，有40％将分配给购买更多比特币，35％将用于一般公司目的，其余25％将用于营运资金。

This plan to buy more Bitcoins aligns with the firm’s overall objective of establishing a long-term presence in the digital commodities sector.

该计划购买更多比特币与公司在数字商品领域建立长期业务的总体目标保持一致。

The new offering comes after a period of expansion of the holding of Bitcoins by the company.

新产品是在公司扩大了公司持有比特币之后的。

Currently, the company possesses 46,376 BTC, making it the second biggest holder of BTC among the listed firms. This decision is in line with Marathon Digital Hope’s strategy to increase its Bitcoin holdings as it needs more capital following the challenging conditions in the mining industry. Rising energy costs and the recent halving of Bitcoin rewards have made traditional mining operations less profitable.

目前，该公司拥有46,376 BTC，使其成为BTC在上市公司中的第二大持有人。这一决定符合马拉松数字希望的策略，即在采矿业挑战性条件下需要更多的资本，因此增加了比特币持有量。能源成本的上升和最近的比特币奖励减半，使传统的采矿业务降低了。

The company’s approach is similar to that of another major firm, MicroStrategy (NASDAQ:MSTR), which has been actively seeking funds to purchase Bitcoin.

该公司的方法类似于另一家主要公司MicroStrategy（NASDAQ：MSTR）的方法，该公司一直在积极寻求购买比特币的资金。

Earlier this year, MicroStrategy announced plans to sell up to $500 million in shares to buy more Bitcoin. MicroStrategy’s CEO, Michael Saylor, has been a strong advocate for companies holding Bitcoin on their balance sheets.

今年早些时候，Microstrategy宣布了计划出售高达5亿美元的股票以购买更多比特币。 MicroStrategy的首席执行官Michael Saylor一直是持有比特币资产负债表的公司的坚定拥护者。

After migrating from the past method of mining and using its own generated bitcoins, Marathon Digital is now buying the bitcoins through issuing of equity offerings and convertible bonds.

从过去的采矿方法迁移并使用其自己生成的比特币的方法之后，Marathon Digital现在通过发行股权和可转换债券来购买比特币。

As the company is still making solid profits from mining, buying more coins directly in the market creates another channel to expand the company’s offerings.

由于该公司仍在从采矿中赚取可观的利润，因此直接在市场上购买更多硬币会创建另一个渠道，以扩大公司的产品。

The company’s past success with Bitcoin acquisition is evident. In 2024, Marathon Digital increased its holdings from 13,726 BTC to the current 46,376 BTC, demonstrating the company’s ability to scale its Bitcoin assets significantly. This aggressive expansion has positioned MARA as a major player in the digital asset space.

该公司过去在比特币收购方面取得了成功。 2024年，Marathon Digital将其持股从13,726 BTC提高到了当前的46,376 BTC，这表明该公司有能力大大扩展其比特币资产。这种积极的扩展将Mara定位为数字资产领域的主要参与者。

Despite the company’s strong performance in scaling its Bitcoin assets and adjusting to the shifting dynamics of the cryptocurrency market, the company’s future performance will be closely tied to the price of the digital currency. Bitcoin’s volatility remains a key factor in the company’s long-term plans as it continues to adjust its strategies for optimal resource management in the evolving crypto landscape.

尽管该公司在扩大比特币资产并适应加密货币市场的变化动态方面表现出色，但该公司的未来业绩将与数字货币的价格紧密相关。比特币的波动性仍然是该公司长期计划的关键因素，因为它继续调整其在不断发展的加密景观中的最佳资源管理策略。

Moreover, the company’s strong liquidity position is a key aspect of its financial health. With a current ratio of 4.94, the company appears to be well-positioned to meet short-term obligations, which is crucial as it navigates the fluctuating cryptocurrency market. A high current ratio indicates that the company has ample liquid assets to cover its current liabilities, suggesting a lower risk of financial distress.

此外，该公司的强大流动性地位是其财务状况的关键方面。目前的比率为4.94，该公司似乎有很好的位置，可以履行短期义务，这至关重要，因为它导航了波动的加密货币市场。高电流比率表明该公司拥有足够的流动资产来支付其流动负债，这表明财务困扰的风险较低。

However, not everyone supports this approach. Renowned economist Peter Schiff has been vocal in his criticism of companies like MARA and MicroStrategy for their strategies of purchasing Bitcoin and adjusting their operations accordingly.

但是，并非所有人都支持这种方法。著名的经济学家彼得·希夫（Peter Schiff）在批评Mara和Microstrategy等公司的批评中一直在批评购买比特币和相应地调整其业务的策略。

Schiff, a Bitcoin critic, recently dismissed the idea of acquiring Bitcoin as a viable long-term business model, calling those who invest in the cryptocurrency “fools.”

比特币评论家希夫（Schiff）最近驳斥了将比特币作为可行的长期商业模式的想法，称那些投资加密货币的人“傻瓜”。