MARA Holdings targets the issuance of a total of $700 million in convertible senior bonds maturing in 2030. This offering will be available exclusively to qualified institutional buyers and includes an additional bond purchase option of $105 million.
Company Plans to Acquire Bitcoin
The company intends to allocate $200 million of the raised funds to repurchase its existing convertible bonds due in 2026. The remaining funds will be utilized for Bitcoin 
$91,517 accumulation, company expansion, strategic acquisitions, and debt repayments.
Bitcoin mining is becoming increasingly profitable. Miners strategically pause operations or sell assets to optimize profitability in each cycle. Companies like MARA, which are expanding operations before halving, are now striving to maximize gains from the current bull season by increasing their reserves.
MARA’s Strategic Approach
This offering aligns with the debt-based Bitcoin acquisition strategies of MicroStrategy and the Japan-based Metaplanet. Metaplanet’s similar strategy of accumulating Bitcoin has significantly increased its BTC revenue, nearly doubling the company’s value year-over-year.
According to Bitcoin Treasuries, Marathon Digital is currently the largest Bitcoin investor among publicly traded mining companies, holding 27,562 BTC. This positions the firm as a leading Bitcoin investor in the sector.
Convertible bonds can be converted to cash or stock at MARA’s discretion. Interest payments will be made semi-annually; however, all details have yet to be finalized.
MARA Holdings’ plan to issue convertible bonds aims to support its goals of increasing Bitcoin accumulation and growth. This strategy follows in the footsteps of other successful companies employing similar methods. For investors, this move presents potential to strengthen the company’s financial health and market position.
