MARA increases convertible senior note issuance size to $850 million, part of proceeds will be used to increase Bitcoin holdings

Foresight News reports that Bitcoin mining company MARA has announced an increase in the total principal amount of its 0.00% convertible senior notes maturing in 2031 to $850 million (initially announced as $700 million). MARA has also granted the initial purchasers of the notes an option to purchase up to $150 million in total principal amount of the notes within 13 days from the date of the initial issuance of the notes. The net proceeds will be used to purchase more Bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repaying additional debt and other outstanding liabilities.