MARA Plans to Issue $700 Million Zero-Coupon Convertible Senior Notes to Purchase BTC
According to official news, NASDAQ-listed Bitcoin mining company MARA announced plans to issue $700 million of zero-coupon convertible senior notes, with the proceeds primarily used to purchase Bitcoin and to repurchase existing convertible notes maturing in 2026.
Additionally, MARA expects to use up to $50 million of the net proceeds from the sale of the notes to repurchase a portion of its existing convertible notes maturing in 2026 through privately negotiated transactions, with the remaining net proceeds used to purchase more Bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, existing asset expansion, and repayment of additional debt and other outstanding obligations.
