MARA Holdings’ $850M Power Move: Why Buying Bitcoin and Slashing Debt Could Shake Up the Market Like Never Before
MARA Holdings said Wednesday it plans to raise $850 million via a private sale of zero-coupon convertible senior notes. Proceeds will be used for debt buybacks, capped call transactions, Bitcoin accumulation, and corporate purposes.
Of the total proceeds, $50 million will be earmarked for repurchasing part of the company’s 1.00% convertible notes due 2026; the remainder will be applied to previously disclosed uses.
The notes will be convertible into cash, MARA common stock, or a combination of both, at the company’s discretion. Before May 1, 2032, conversions will only be permitted during specific periods and under certain conditions. The initial conversion rate and other terms will be determined during pricing.
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