MARA Announces $700 Million Convertible Note Offering to Boost Bitcoin Holdings

Mining firm MARA Holdings, formerly Marathon Digital, announced plans to offer $700 million in 0.00% convertible senior notes due 2030 to qualified institutional buyers.

The company may allow initial purchasers to purchase an additional $105 million in notes within 13 days of issuance.

$700 million convertible note offering

MARA plans to use up to $50 million from the sale of notes to purchase a portion of its 2026 convertible notes through private offerings. The remaining funds will be used for the acquisition of more Bitcoin and general purposes such as working capital, strategic acquisitions, asset expansion and debt repayment, according to the official press release.

The Company expects that the Notes will be issued without interest, except in exceptional cases where special interest applies, and the principal amount is expected to remain unchanged. The notes, which mature in 2030, are convertible into cash, equity or a combination of the two. This strategy helps MARA improve its balance sheet by replacing short-term obligations with long-term debt while continuing its investment in digital assets.

The move comes less than a week after MARA purchased 6,474 BTC of its $1 billion 0% interest convertible note offering. In the same announcement, the company also disclosed the purchase of $200 million of its 2026 notes and plans to use the remaining $160 million to buy more Bitcoin at more favorable prices during market downturns.

This strategy aligns with MicroStrategy’s approach of issuing corporate debt to increase BTC holdings, a growing trend among companies.

Bitcoin for Financial Sovereignty: MARA’s Recommendations

MARA Holdings recently called on US policymakers to take the lead on Bitcoin mining, positioning the asset as crucial to national security and financial sovereignty. The mining company highlighted Bitcoin’s finite supply, decentralization and cross-border transfer, comparing it to gold as a store of value. MARA argued that controlling Bitcoin’s block space and hash rate would ensure access to secure transactions, preventing manipulation by “adversary” nations.

The company recommended that the United States develop the domestic Bitcoin mining infrastructure, prioritize the adoption of renewable energy and reduce dependence on foreign ASIC chips. This strategic shift could strengthen the economy, boost energy networks and create high-tech jobs.

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