MARA Holdings to Raise $805 Million to Buy Bitcoin, Pay Off Debt
Event: MARA Holdings, a major company in the digital assets and blockchain computing sector, announced its plan to raise $805 million through the issuance of convertible bonds due in 2031.
Objectives: The company aims to use the funds to boost its Bitcoin holdings, as it currently owns 34,794 Bitcoins valued at $3.3 billion. It will also allocate a portion of the funds to pay off existing debt, including $199 million in bonds due in 2026.
Details of the bonds: The bonds will be unsecured and will not bear interest. They can be converted into cash, common stock of the company, or a combination of the two.
Market Impacts: This announcement comes amid a positive atmosphere in the cryptocurrency market, driven by the victory of a US administration that supports cryptocurrencies, which increases institutional appetite for investment in this sector.
.
.
Sources 📍📰📍
Cryptonews.com
.
"If you care about cryptocurrency news, follow us and enable notifications to stay updated! 📈🔔"
.
