Bitcoin was down about 6.6% over the past week and lower again Monday, a backdrop that may be weighing on MARA Holdings and the broader mining space.

MARA Uses $1.1 Billion Bitcoin Sale To Repurchase Debt

The move follows a March 26 announcement in which MARA Holdings said it sold 15,133 Bitcoin for about $1.1 billion and used the proceeds to repurchase roughly $1 billion of its 2030 and 2031 convertible notes.

The company said the repurchase was completed at an approximate 9% discount, a move expected to save about $88.1 million and reduce its convertible debt by roughly 30%.

Bitcoin Weakness Keeps Pressure On MARA Shares

Even so, Monday’s selling suggests investors remain more focused on…

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