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MARA Holdings sold 15,133 Bitcoin for roughly $1.1 billion in March to buy back $1 billion of zero-coupon convertible notes at a discount, reducing its convertible debt by roughly 30%.MARA Holdings sold more than $1 billion of Bitcoin in March to repurchase convertible debt at a discount, using its BTC holdings to reduce leverage, the company said Thursday.
, the largest listed US Bitcoin miner said it would buy back about $1 billion of zero-coupon convertible notes due 2030 and 2031 for roughly $913 million in cash, capturing about $88 million in savings, or close to a 9% discount to par. ) for around $1.1 billion between March 4 and March 25 to fund the transactions, which it said will cut its outstanding convertible debt by about 30% to roughly $2.3 billion once the deals close at the end of the month. According to Bitcointreasuries.net, MARA nowthat the transaction enhanced the company’s “financial flexibility” and increased its “strategic optionality” as MARA expands “beyond pure-play Bitcoin mining into digital energy and AI/HPC infrastructure.”MARA’s premarket share price reacted positively to the news, rising from yesterday’s close of $8.25 to $9.29, a gain of around 12.6%, and traded at $8.74 at the time of writing, according tothat it was quietly selling down its BTC holdings, saying it continued to view Bitcoin as a strategic treasury asset while actively managing its balance sheet. MARA is part of a broader shift among crypto miners seeking more stable revenue streams, redeploying energy and infrastructure toward artificial intelligence and high-performance computing. The company recently agreed toCanaan has invested in US mining siteCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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$1.1 Billion Worth of BTC Sold by Bitcoin Mining BehemothMajor Bitcoin mining firm MARA Holdings has sparked fierce backlash from the crypto community after liquidating 15,133 Bitcoin for $1.1 billion to aggressively de-lever its balance sheet..
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