Mara Holdings Plans Up to $1 Billion Convertible Notes Offering Potentially Supporting Bitcoin Purchases

Key Points

1. Mara Holdings announced a $1 billion zero-interest convertible senior notes offering due 2032, aimed at qualified institutional buyers to support Bitcoin accumulation.

2. The company plans to allocate up to $50 million to repurchase existing 1.00% convertible notes due 2026.

3. Mara Holdings holds approximately 50,000 BTC, making it the second-largest corporate Bitcoin holder.

4. The company reported a 35% resilience in mining operations and annualized mining revenue surpassing $752 million.

5. Prime, an institutional investment adviser managing $1.75 billion in assets, supports Mara’s Bitcoin portfolio management.