MARA plans a $700M note offering, using proceeds to repay debt, acquire Bitcoin, and expand operations.
MARA mined 907 BTC in November, achieving a 26% production boost and a 15% rise in hash rate efficiency.
Semler Scientific purchased 297 BTC, growing its holdings to 1,570 BTC, reflecting strong corporate Bitcoin adoption trends.
MARA Holding has announced its plan to issue US $700 million in convertible senior notes by private offerings. These notes will be offered to the Qualified Institutional Buyers (QIBs) and they will have a maturity term of 2031. The initial buyers will also have a 13-days warrant to purchase an additional $105 million worth of the notes.
https://twitter.com/BitcoinMagazine/status/1863552095606981068
MARA has issued an assurance that the offering is subject to market conditions and other related factors. The notes will not pay regular interest but will include special interest payable semi-annually starting in June 2025.
Strategic Use of Funds
MARA plans to allocate $50 million of the proceeds to repay its 2026 convertible notes. The remaining funds will be used to acquire more Bitcoin and support corporate initiatives. These initiatives include strategic investments, working capital, and expanding the company’s operational footprint.
By November, MARA held 34,959 BTC, valued at $3.3 billion, a mix of mined and purchased Bitcoin. MARA continues to position itself as a leader in Bitcoin mining and adoption.
Operational Advancements and Increased Production
MARA reported mining 907 BTC in November, a 26% increase from the previous month. The company attributed this rise to deploying new miners and improving operations.
MARA also achieved a 15% increase in its energized hash rate, reaching 46.1 EH/s. These advancements highlight the company’s commitment to boosting mining efficiency and expanding its production capabilities.
Semler’s Bitcoin Strategy in Comparison
Semler Scientific also expanded its Bitcoin holdings, purchasing 297 BTC between November 18 and November 22 for $29.1 million. The company now holds 1,570 BTC, acquired at an average price of $75,039 per Bitcoin. Semler funds these acquisitions through equity capital, reflecting its strategic focus on Bitcoin adoption.
The efforts by MARA and Semler underscore the increasing trend of corporate Bitcoin adoption. These strategies show confidence in Bitcoin’s long-term potential. MARA’s aggressive investments and operational growth further solidify its market leadership.
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