MARA Holdings Raises $950M to Boost Bitcoin Holdings
MARA Holdings Secures $950 Million for Bitcoin Acquisition
MARA Holdings has successfully raised $950 million through a zero-interest convertible senior notes offering. According to a recent announcement, the funds will primarily be used to acquire more Bitcoin and for general corporate purposes.
Key Takeaways
- $950 million raised through zero-interest convertible notes.
- Funds allocated for Bitcoin acquisition and corporate use.
- Strategic debt repurchase and capped call transactions planned.
The offering was upsized from an initial $850 million target due to strong institutional investor demand. MARA granted purchasers an option to buy an additional $200 million in notes.
After deducting discounts and commissions, MARA received approximately $940 million. Over $18 million was used to repurchase $19 million in 2026 convertible notes, and around $37 million was allocated to capped call hedges to reduce potential dilution.
The remaining funds will support MARA’s Bitcoin acquisition strategy, working capital, strategic acquisitions, asset expansion, and debt repayment.
MARA currently holds about 50,000 Bitcoin, valued at approximately $6 billion at current market prices. This new acquisition is expected to solidify MARA's position as the second-largest corporate Bitcoin holder.
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