Mara Holdings has unveiled plans for a $1 billion zero-interest convertible senior notes offering targeted at qualified institutional buyers, with proceeds designated to expand the company’s Bitcoin reserves. The notes, due in 2032, reinforce Mara’s strategy as a top Bitcoin miner focused on long-term cryptocurrency accumulation.
As part of the initiative, Mara will allocate up to $50 million for repurchases of its existing 1.00% convertible notes due in 2026. The company currently holds approximately 50,000 BTC, cementing its position as the world’s second-largest corporate Bitcoin holder.
Mara highlighted strong mining performance metrics including a 35% operational resilience rate and annualized mining revenue exceeding $752 million. Institutional support comes through Prime, an investment advisory firm managing $1.75 billion in assets, which oversees Mara’s Bitcoin portfolio management.