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26/03/26 11:04 UTC-04

MARA Holdings announces Bitcoin sale

MARA Holdings, a U.S.-based cryptocurrency mining company, has carried out a significant financial operation to manage its balance sheet. The company announced special agreements to repurchase convertible bonds totaling $1 billion. These transactions involve zero-interest bonds maturing in 2030 and 2031.

According to the announcement, MARA plans to repurchase 2030 maturity bonds with a nominal value of approximately $367.5 million for about $322.9 million. Additionally, bonds maturing in 2031 with a nominal value of $633.4 million will be repurchased for around $589.9 million.

The company also reported that between March 4 and March 25, it sold a total of 15,133 BTC to finance these transactions. According to its data, these sales generated approximately $1.1 billion.

It was stated that most of the proceeds will be used for bond repurchase operations, while the remaining funds will be allocated to general corporate expenses. J. Wood Capital Advisors acted as a consultant in this financial process.

Experts view this move by MARA as a strategic step to reduce debt burden and strengthen its balance sheet. However, the large-scale Bitcoin sale is also seen as a factor that may exert short-term pressure on the market.

See also: "Rising Bitcoin mining costs are reshaping miners’ business model — CoinShares"

#Bitcoin (BTC) #Mining #Sell

Editor: Alyona Nabok
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