MARA Dumps $1.1 Billion In Bitcoin To Cut Debt By 30%

2h
...

MARA, a Nasdaq-listed Bitcoin miner expanding into digital energy and

AI infrastructure, announced a major balance sheet restructuring on Thursday.

The company said they sold 15,133 Bitcoin for approximately $1.1 billion between March 4 and March 25 to fund the repurchase of its 0.00% convertible senior notes due 2030 and 2031.

The company will repurchase $367.5 million of its 2030 notes for $322.9 million and $633.4 million of its 2031 notes for $589.9 million.

The purchases represent an approximate 9% discount to par value and are expected to generate roughly $88.1 million in cash savings. The transactions are scheduled to close on March 30 and March 31, pending customary…