Strategic Investment Highlights:

• $20M equity investment formalizes MARA’s minority ownership in Two Prime
• Expands MARA’s BTC allocation to 2,000 BTC
• Relationship strengthens amid rising corporate, institutional, and sovereign demand for bitcoin treasury solutions

Two Prime, an SEC-registered investment advisor and institutional lender with total assets under management of ~$1.75 billion, today announced a $20 million equity investment led by MARA Holdings, Inc. (NASDAQ: MARA) (“MARA”), deepening the companies’ existing relationship. The investment round, which includes additional participation from Susquehanna Crypto, formalizes MARA’s equity stake in Two Prime and builds on its previously announced allocation – expanding from 500 BTC to 2,000 BTC – into Two Prime’s institutional yield strategies. The transaction represents a significant growth-stage investment as Two Prime scales its institutional offerings.

This investment comes amid a surge in institutional and sovereign interest in digital asset yield strategies, as entities look beyond simple asset appreciation to more sophisticated forms of capital deployment. With bitcoin increasingly held on corporate balance sheets, the demand for trusted, yield-generating infrastructure is rising sharply – and Two Prime is uniquely positioned to meet this demand with its focus on security, transparency, and performance.

“As bitcoin becomes an integral part of corporate and sovereign balance sheets, institutions are reevaluating how to deploy it strategically,” said Alexander Blume, CEO of Two Prime. “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.”

“This investment builds on an existing relationship that has delivered strong alignment around risk, transparency, and capital deployment,” said Salman Khan, CFO of MARA. “It reflects our commitment to activating our bitcoin holdings, turning them into more than a passive asset tied to price appreciation. Alongside our participation in Two Prime’s funding round, we have allocated 2,000 BTC to their platform to help generate yield as part of our broader treasury approach. This strategy combines the potential for long-term value appreciation with disciplined efforts to earn returns while carefully managing risk.”

Two Prime’s yield strategies are designed specifically for institutions, emphasizing capital preservation, risk-adjusted returns, and operational transparency. MARA’s investment reflects a larger shift toward actively managed digital asset portfolios under disciplined, risk-aware frameworks. Two Prime’s lending arm, Two Prime Lending, was recently ranked the largest CeFi lender in the United States, according to Galaxy Research’s “The State of Crypto Leverage – Q1 2025” report.

As institutional and sovereign players increasingly embrace digital asset infrastructure, the Two Prime-MARA relationship represents a blueprint for the next generation of strategic treasury management in crypto.

About Two Prime

Two Prime is an SEC-Registered Investment Advisor that provides institutional investors with intelligent, transparent exposure to bitcoin through bespoke derivatives strategies. Serving clients ranging from corporate treasuries and miners to family offices, Two Prime combines white-glove service with unmatched visibility into operations, strategy, and performance. Two Prime Lending, its credit team, is one of the largest bitcoin-secured lenders in the world.

For more information, visit www.twoprime.com or follow us on:

X: @Two_Prime

LinkedIn: https://www.linkedin.com/company/twoprime/

About MARA

MARA (NASDAQ: MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge. Learn more at www.mara.com

For more information, visit www.mara.com or follow us on:

X: @MARA

LinkedIn: www.linkedin.com/company/MARAHoldings

Facebook: www.facebook.com/MARAHoldings

Instagram: @MARAHoldingsInc

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