Bitcoin mining firm MARA has completed a sizable $950 million convertible note sale, aiming to bolster its crypto reserves and strengthen its balance sheet.
The zero-coupon notes, maturing in 2032, were sold privately to institutional investors and generated net proceeds of approximately $940.5 million.
A portion of the funds—$18.3 million—was used to repurchase existing 2026 notes, while $36.9 million was spent on capped call transactions to reduce potential dilution. The remainder will support strategic initiatives, including further Bitcoin acquisitions and corporate expansion.
MARA stated it intends to use a significant part of the capital to accumulate more Bitcoin, reinforcing its long-term strategy to hold BTC as a treasury asset. With 50,000 BTC already in its possession—valued at $5.92 billion—the company trails only Strategy, which holds an industry-leading 628,791 BTC.
This aggressive capital move signals MARA’s growing confidence in Bitcoin’s long-term value, especially as institutional interest in the asset class continues to rise. By converting debt into crypto reserves and infrastructure investments, MARA positions itself as both a mining powerhouse and a digital asset treasury giant.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/mara-raises-950m-in-debt-offering-to-boost-bitcoin-holdings/