Cryptocurrency company MARA Holdings has increased its convertible note offering from $700 million to $850 million. The offering, which is expected to close on November 20, will allow MARA to acquire more bitcoin with estimated net proceeds of $833 million. In addition, the company plans to use $199 million to repurchase existing convertible notes and allocate the rest towards bitcoin acquisition, asset expansion, and general corporate purposes. MARA is currently the second largest publicly traded holder of bitcoin, with 27,562 BTC. The news has caused the company's shares to rise nearly 2% in pre-market trading after a 14% drop on Monday.



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