Mining firm MARA Holdings, formerly Marathon Digital, announced plans to offer $700 million in 0.00% convertible senior notes due 2030 to qualified institutional buyers.
The company may allow initial buyers to purchase an extra $105 million in notes within 13 days of issuance.
$700M Convertible Notes Offering
MARA plans to use up to $50 million from the note sale to buy back part of its 2026 convertible notes through private deals. The rest of the funds will go toward acquiring more Bitcoin and general purposes like working capital, strategic acquisitions, asset expansion, and debt repayment, according to the official press release.
The company expects the notes to be issued with no interest, except in rare cases where special interest may apply, and the principal amount is expected to remain unchanged. The notes, maturing in 2030, are convertible into cash, equity, or a combination of the two. This strategy helps MARA improve its balance sheet by replacing short-term obligations with long-term debt while continuing its investment in digital assets.
The move comes less than a week after MARA acquired 6,474 BTC from its $1 billion convertible note offering at 0% interest. In the same announcement, the company also revealed buying $200 million worth of its 2026 notes and plans to use the remaining $160 million to purchase more Bitcoin at more favorable prices during market dips.
This strategy aligns with MicroStrategy’s approach of issuing corporate debt to increase BTC holdings, a growing trend among businesses.
Bitcoin For Financial Sovereignty: MARA’s Recommendations
MARA Holdings recently called on the United States policymakers to take the lead in Bitcoin mining, positioning the asset as crucial for national security and financial sovereignty. The mining company stressed Bitcoin’s finite supply, decentralization, and cross-border transferability, comparing it to gold as a store of value. MARA argued that controlling Bitcoin’s blockspace and hash rate would ensure access to secure transactions, preventing manipulation by “adversarial” nations.
The firm recommended the US to develop domestic Bitcoin mining infrastructure, prioritize renewable energy adoption, and reduce reliance on foreign ASIC chips. This strategic shift could strengthen the economy, boost energy grids, and create high-tech jobs.
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