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MARA Holdings has concluded a staggering $950 million raise in convertible senior notes, a move that will significantly increase the company’s exposure to Bitcoin (BTC). This substantial injection of funds will further cement MARA’s position as one of the largest and most influential players in the global Bitcoin mining landscape.
According to the announcement, the firm will utilize approximately 18.3 million dollars to retire existing convertible notes due in 2026, and a further $36.9 million will be allocated towards capped call hedges, which aim to mitigate potential dilution stemming from future share conversions.
The remaining $907.8 million will be invested primarily in accumulating additional BTC holdings, effectively widening MARA’s lead over rival Twenty One Capital, which currently maintains 37,230 BTC. Notably, this raise eclipses the company’s current 50,000 BTC stash, valued at roughly 5.9 billion USD at present market prices.
The announcement has seen MARA Holdings’ shares experience a slight pullback, trading at $17 – down 1.42% on the day. This minor decline notwithstanding, the company’s shares have still managed to retain some of their value over the preceding six months, which saw a decrease of approximately 6.85%.
Source: bitcoinist.com
