Marathon Digital (ticker MARA) has deepened its bet on institutional yield strategies, leading a $20 million equity round in SEC-registered investment advisor Two Prime, according to a release shared with The Block. The move formalizes an expanding relationship between the two firms that now includes a 2,000 BTC capital allocation — up from the 500 BTC initially disclosed in May.
Susquehanna Crypto also joined the round, backing Two Prime as it scales its crypto-native institutional offerings. With this latest funding, MARA adds an equity stake to its growing exposure to Two Prime’s yield platform, which caters specifically to corporate treasuries, sovereign entities, and other large bitcoin holders.
“As digital assets become an integral part of corporate and sovereign balance sheets, institutions are reevaluating how to deploy them strategically,” Two Prime CEO Alexander Blume stated in the release. “MARA’s investment signals a broader shift toward active, yield-focused bitcoin strategies that meet institutional standards. This is a long-term alignment around vision, risk management, and innovation.”
MARA CFO Salman Khan framed the move as part of a broader shift in MARA’s treasury approach.
“This investment builds on an existing relationship that has delivered strong alignment around risk, transparency, and capital deployment,” stated Khan. “It reflects our commitment to activating our bitcoin holdings, turning them into more than a passive asset tied to price appreciation.”
The investment comes as MARA ramps up efforts to monetize its massive bitcoin holdings. The company said last month it mined 950 BTC in May, its highest total in over a year. That brings MARA’s total bitcoin reserves to 49,179 BTC, the second-largest publicly traded bitcoin treasury behind Strategy.
MARA is the largest publicly traded bitcoin miner in the U.S. with a market capitalization of $6.2 billion, according to The Block’s MARA price data. Shares trade around $19 after surging 25% over the past month.
“MARA is one of many Bitcoin firms that has ventured into AI infrastructure services to diversify its business, particularly following the 2024 Bitcoin halving that slashed mining revenues, though the firm has also made notable investments in an attempt to double its mining capacity,” The Block’s Dan Kuhn previously reported. “In March, MARA said it would sell up to $2 billion in stock offerings to expand its Bitcoin holdings, including through investing in its mining operations.”
For Two Prime, the deal marks a growth-stage milestone. The firm currently manages roughly $1.75 billion in assets and was recently ranked the largest CeFi lender in the U.S., according to Galaxy Research.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
