Add as a preferred source on GoogleMARA Sold 15,133 Bitcoin for $1.1 Billion to Repurchase Debt
The sales funded most of a $1 billion face-value note repurchase; MARA separately outlined plans to expand into AI and high-performance computing.
MARA Holdings sold 15,133 Bitcoin (BTC) between March 4 and March 25 for about $1.1 billion, using most of the proceeds to repurchase convertible notes and reserving the balance for general corporate purposes. MARA announced the sale on March 26.
The company agreed to buy back $367.5 million in principal on notes due in 2030 for $322.9 million, and $633.4 million in principal on notes due in 2031 for $589.9 million. Together, the repurchases cover about $1 billion in principal for $912.8 million in cash.
MARA estimated the repurchases would save $88.1 million before transaction costs. The deal was priced about 9% below par and would reduce convertible indebtedness by approximately 30%.
During the first quarter, MARA sold 20,880 BTC at an average $70,137 per coin and held 35,303 BTC on March 31. Chairman and CEO Fred Thiel said the deal increased financial flexibility as the company expands beyond Bitcoin mining into digital energy and AI/HPC infrastructure.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.