MARA follows Saylor’s playbook with Two Prime deal, BTC allocation grows
Powered by ChatGPTBitcoin mining company $MARA Holdings has completed a minority acquisition of Two Prime, an institutional investment adviser managing $1.75 billion in assets, in a deal that significantly increases the amount of $BTC Two Prime manages on $MARA’s behalf. The minority stake included a $20 million equity investment in Two Prime, with $MARA increasing its Bitcoin ( $BTC ) allocation with the company to 2,000 $BTC from 500 $BTC, $MARA said Tuesday. The Bitcoin will be held in a Separately Managed Account and used to generate yield on $MARA’s behalf. Two Prime is an investment adviser registered with the US Securities and Exchange Commission (SEC). The company helps institutions and professional investors gain exposure to Bitcoin. $MARA holds one of the world’s largest Bitcoin treasuries, initially built through its self-mining operations. As reported by Cointelegraph , the company later announced plans to sell stock to acquire additional Bitcoin, a play reminiscent of Michael Saylor’s Strategy . $MARA’s chief financial officer, Salman Khan, said the strategy is part of the company’s broader effort to activate its Bitcoin balance, which includes using $BTC as more than just a “passive asset tied to price appreciation.” Related: 10 public companies that quietly turned their balance sheets into Bitcoin treasuries Like several mining firms, $MARA has experienced mixed outcomes following Bitcoin’s recent quadrennial halving, which cut block rewards by 50%. The reduced revenue potential, coupled with rising energy and equipment costs, placed pressure on miners’ profitability . For $MARA, this translated into a $533 million net loss in Q1, despite a nearly 30% increase in revenue to $214 million. As Cointelegraph reported , streamlining electricity costs has become a key profitability driver in the post-halving environment. In response to these challenges, several miners, including Core Scientific and $HIVE Digital , have begun pivoting their business models toward AI data center hosting and repurposing infrastructure for high-performance computing (HPC) workloads. However, Core Scientific’s future in Bitcoin mining is less certain after it was acquired by CoreWeave in a $9 billion all-stock deal. CoreWeave said it may “repurpose” Core Scientific’s assets toward HPC or divest its crypto operations entirely. Related: Despite record high, S&P 500 is down in Bitcoin terms [Cointelegraph]