MARA plans to raise $500 million to purchase cryptocurrency, Rumble adds $20 million to its quota, and Victory Securities' holding ratio rises to 35%

According to BBX data, yesterday global publicly listed companies showed a strong momentum in transitioning from "self-funded purchases" to "large-scale capital market instruments" in the crypto treasury space:

• Convertible Bond Heavyweight: Marathon Digital (NASDAQ: $MARA) announced yesterday its plan to issue $500 million in convertible senior notes through a private placement, with the net proceeds primarily intended for purchasing more Bitcoin. This marks a trend among top mining companies to emulate the MSTR model, directly expanding reserves using capital market premiums.

• Treasury Holdings Increase: Rumble (NASDAQ: $RUM) board approved an additional $20 million allocation for Bitcoin yesterday. As a video platform giant, Rumble is viewing BTC as the core financial settlement asset of its decentralized content ecosystem.

• Digital Pioneer in Hong Kong: Victory Securities (HKG: 8540) disclosed yesterday that the proportion of digital assets in its proprietary investment portfolio has increased to 35%. The company clearly stated that it will leverage its licensed advantage from the Hong Kong Securities and Futures Commission to continuously expand its financial exposure in the Web3 space.

• High Retention Strategy: TeraWulf (NASDAQ: $WULF) released its latest operational report, showing that its Bitcoin output retention rate (HODL Rate) reached 95% yesterday. Through the low-cost advantage driven by nuclear energy, the company has achieved nearly full compliance with the "output equals deposit" financial discipline.

• Small and Mid-Cap Defense: LQR House (NASDAQ: $LQR) confirmed that it has executed the $1 million Bitcoin purchase plan approved yesterday. Although smaller in scale, this further validates that small and mid-cap companies in the U.S. stock market generally regard BTC as a "standard firewall" against cash inflation.