Catenaa, Sunday, July 20, 2025-MARA Holdings has acquired a minority stake in institutional asset manager Two Prime with a $20 million equity investment, expanding its Bitcoin holdings from 500 to 2,000 BTC.
The additional tokens will be managed in a separately managed account (SMA) and used to generate yield, the company announced Tuesday.
The move marks a shift in strategy for the Bitcoin mining firm, which is seeking to activate its BTC reserves amid post-halving profitability pressures.
Salman Khan, MARA’s CFO, said the company aims to use Bitcoin not just as a passive treasury asset but as a yield-generating instrument.
Two Prime, registered with the U.S. Securities and Exchange Commission, focuses on institutional-grade Bitcoin strategies. CEO Alexander Blume said MARA’s investment highlights growing institutional interest in active crypto treasury management, aligning with broader efforts to professionalize the asset class.
MARA’s expanded holdings follow a trend of Bitcoin treasury growth via stock sales, a method also employed by Strategy.
The firm reported $214 million in revenue last quarter but posted a net loss of $533 million, reflecting the strain on miners following the recent halving.
Facing rising costs and shrinking rewards, several mining firms, including Core Scientific and HIVE Digital, are repurposing infrastructure for AI and high-performance computing.
Skepticism around Bitcoin treasury strategies persists, with analysts warning that the era of easy gains may be fading. A lawsuit against Strategy has also drawn attention to the risks of aggressive crypto treasury models.
