MARA continues to offer 700 million USD in bonds to buy Bitcoin

MARA Holdings (formerly Marathon Digital Holdings) has announced plans to offer 700 million USD in convertible bonds with an interest rate of 0%. The funds raised from this issuance will primarily be used to purchase Bitcoin, pay off debts, and expand the company's business.

Specifically, MARA plans to allocate about 50 million USD to buy back a portion of bonds maturing in 2026, and the remaining approximately 650 million USD will be invested in Bitcoin. With the current Bitcoin price around 95,000 USD, the company could purchase an additional approximately 6,800 BTC from the raised funds.

This is part of MARA's "HODL" strategy, where the company retains all mined Bitcoin without selling it. Previously, in November, MARA raised 1 billion USD from another bond offering, of which it used 615 million USD to purchase 6,474 BTC.