Odaily Planet Daily News According to official news, Bitcoin mining company MARA Holdings announced that the total principal amount of its 0.00% convertible preferred notes maturing in 2030 has been raised to 850 million USD (initially announced as 700 million USD). MARA also granted the initial purchasers of the notes the option to purchase up to 150 million USD in total principal of the notes within 13 days from the date of the initial issuance. This issuance is expected to conclude on November 20, 2024, but is subject to customary closing conditions. MARA expects to use approximately 199 million USD of the net proceeds from the sale of the notes to repurchase the total principal amount of 212 million USD of its existing convertible notes maturing in 2026 through privately negotiated transactions, with the remaining net proceeds to be used for increasing its Bitcoin holdings and for general corporate purposes, which may include working capital, strategic acquisitions, existing asset expansion, and repaying additional debts and other outstanding debts.

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