What to know:
- MARA Holdings (MARA) repurchased approximately $1.0 billion of convertible notes at about a 9% discount, capturing roughly $88 million in value, according to the company.
- The sale of 15,133 bitcoin funded the transaction, with remaining proceeds expected to enhance liquidity and support broader strategic initiatives.
- MARA shares were higher by 10% in premarket trading on Thursday.
Between March 4th and 25th, MARA Holdings (MARA) sold 15,133 bitcoin for around $1.1 billion. This sale was done to strengthen the company’s financial position.
The company is using the money to buy back about $1 billion worth of its convertible notes that mature in 2030 and 2031, purchasing them at less than their original value.
As part of our financial strategy, we’re repurchasing some of our outstanding notes. We’re buying back $367.5 million of our 2030 notes for $322.9 million and $633.4 million of our 2031 notes for $589.9 million. These purchases are happening at a discount – about 9% below their face value – and we estimate this will create around $88.1 million in value for the company.
MARA was higher by 10% in premarket trading.
This deal offers more than just short-term savings; it significantly improves MARA’s financial position. By buying back some of its debt, the company will reduce its convertible notes by approximately 30%, bringing the total amount outstanding down from around $3.3 billion to $2.3 billion. This also lowers the potential for future stock dilution when those notes are converted into shares.
CEO Fred Thiel explained that selling some of their Bitcoin is a planned financial decision. This will improve the company’s financial health and help it grow over the long term.
MARA now holds 38,689 BTC following the sale.
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2026-03-26 15:26