2024

Bitcoin

In a bold financial maneuver, <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a> Digital Holdings has announced plans for a massive $1.5 billion offering, coming off the heels of reaching a $750 million cap in its 2023 at-the-market (ATM) offering program. This strategic financial play underscores a broader trend among leading bitcoin <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/">mining companies</a>, who have collectively raised $1.6 billion since October through stock offerings, signaling robust confidence in the future of cryptocurrency mining, according to <a href="https://theminermag.com/news/2024-02-29/miner-weekly-bitcoin-mining-equity-clsk-mara-riot/">TheMinerMag</a>. 
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Notably, <a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/">Riot</a> Blockchain has also made headlines, securing $115 million in Q1 alone, following a substantial $500 million equity raise in Q4. This financial agility is mirrored by <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a>, which recently doubled its preorder of <a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a>’s Antminer S21s, and Riot's strategic pivot to <a href="https://ultramining.com/en/manufacturers/microbt/">MicroBT</a>’s WhatsMiners to enhance and expand its mining fleet.&nbsp; 
Marathon's financial strategy is particularly ambitious, aiming to fuel its miner commitments and infrastructure expansion plans for 2024 and 2025. The recent closure of two site acquisitions from Generate Capital marks a significant shift towards vertical integration, moving away from the asset-light model that defined its previous cycle. 
The company's $15 million investment in Auradine to secure future purchases of bitcoin ASIC miners hints at Marathon's long-term vision to diversify its mining capabilities and possibly challenge the dominance of established players like Bitmain and MicroBT.

Bitcoin Miners’ Funding Frenzy: Marathon Sets Sights on $1.5B After Raising $750M

Ultramining_Eng

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