CandleFocus MARA: Largest Bitcoin Miner on Wall Street Unlocks $200M BTC-Backed Credit Line
2024-10-16
Author: Content Editor
Bitcoin mining company MARA Holdings has secured a $200 million line of credit, backed by a portion of its cryptocurrency holdings. The funds will be used for strategic opportunities and general corporate purposes. MARA is the largest BTC producer listed on Wall Street and is the second-largest public holder of Bitcoin, with nearly 26,000 tokens. Despite recent declines in its share price, financial group Macquarie predicts a potential 50% increase in valuation for MARA due to its shift towards artificial intelligence (AI) and high-performance computing. The trend among Bitcoin miners to seek alternative income sources such as AI is gaining attention from industry analysts.
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