MARA Holdings, a Bitcoin mining company, has raised $850 million through a convertible notes offering, with part of the proceeds being used to purchase an additional 1,423 Bitcoin, valued at approximately $140 million. This move follows a trend among companies to establish Bitcoin strategic reserves, with Hut 8 also announcing plans to raise $500 million through an equity offering to fund its own Bitcoin reserve, which includes a $750 million Bitcoin reserve and a $250 million stock buyback. The strategy is seen as a hedge against inflation and a means to increase economic leverage.