MARA sells 15,133 bitcoin for $1.1 billion to fund convertible note repurchase
The Block
MARA Holdings sold a significant portion of its bitcoin holdings for $1.1 billion to repurchase convertible notes, enhancing its financial flexibility.Summary
MARA Holdings announced the sale of 15,133 bitcoin for approximately $1.1 billion between March 4 and March 25. The proceeds were used to retire $1.0 billion in principal of its 0.00% convertible senior notes due in 2030 and 2031, resulting in $88.1 million in cash savings. This move followed a recent policy change allowing MARA to sell bitcoin beyond its mining production. CEO Fred Thiel stated the transaction increases financial flexibility as the company expands into digital energy and AI/HPC infrastructure. The company reported a $1.7 billion net loss in the fourth quarter, attributed to a decline in bitcoin's price.
(Source：The Block)