PANews reported on October 16 that according to The Miner Mag, Bitcoin mining company MARA announced on Tuesday that it had obtained a $200 million line of credit from an undisclosed counterparty and used part of its Bitcoin holdings as collateral. The company said it would use the funds to seize strategic opportunities and for other general corporate purposes. Although ARA did not disclose specific details about the terms of the credit line, recent agreements with industry competitors have loan-to-value ratios of approximately 70% and a weighted average interest rate of 4.2%. Assuming a 70% loan-to-value ratio, MARA needs to pledge approximately 4,000 BTC as collateral for the $200 million credit.

Two months ago, MARA issued $300 million worth of convertible bonds with an interest rate of 2.125%. Subsequently, the company used $250 million of the bond proceeds to purchase 4,144 BTC. As of September 30, MARA's total Bitcoin reserves were 26,842 BTC, worth $1.8 billion.