MARA Holdings, a bitcoin mining company, has acquired a majority stake in Two Prime. Two Prime is an institution investment adviser that manages $1.75 billion worth of assets. This deal significantly boosts the BTC Two Prime controls on behalf of MARA.
MARA also increased its Bitcoin investment.BTCMARA reported Tuesday. Bitcoin will be kept in a separately-managed account and used for yield generation on behalf of MARA.
Two Prime, an investment adviser with the US Securities and Exchange Commission. It helps institutional investors and professionals gain exposure to Bitcoin.
MARA is the owner of one of world’s biggest Bitcoin treasuries. It was built initially through its own mining operations. As reported by CointelegraphThe company announced later plans to buy additional Bitcoins by selling stock, in a similar fashion to Michael Saylor’s Strategy.
Salman Khan is MARA’s Chief Financial Officer. He said this strategy forms part of MARA’s larger effort to activate Bitcoin, including using BTC for more than just an investment. “passive asset tied to price appreciation.”
Related: 10 public companies that quietly turned their balance sheets into Bitcoin treasuries
MARA is facing mixed results after halving the landscape
MARA’s experience has been mixed, as have other firms that mine Bitcoin. The recent Bitcoin quadrennial half-life, which reduced the block reward by 50%, had a mixed effect on MARA. This reduced revenue potential is coupled with increased energy and equipment cost. placed pressure on miners’ profitability.
MARA’s Q1 loss was $533m, despite an increase of nearly 30% in revenues to $214m.
You can also read about the advantages of using Cointelegraph reportedThe post-halving climate has made it crucial to increase profitability by streamlining the electricity cost.
Core Scientific and other miners have responded by developing new technologies to help them overcome these problems. HIVE DigitalThe business model of has shifted to AI data centers and the repurposing of infrastructures for HPC workloads.
Core Scientific’s future in Bitcoin Mining is uncertain after its acquisition by Core Scientific acquired by CoreWeave In a $9 Billion all-stock transaction. CoreWeave announced that it may “repurpose” Core Scientific can either divert all its crypto assets or move their HPC assets.
Related: Despite record high, S&P 500 is down in Bitcoin terms
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
