MARA Holdings, a Nasdaq-listed Bitcoin miner moving into digital energy and artificial intelligence infrastructure, on Thursday disclosed that it sold 15,133 Bitcoin for roughly $1.1 Billion over three weeks this month to fund the repurchase of its 2030 and 2031 convertible notes.
The move reduces outstanding debt by about 30%, captures an estimated $88 million in value, and strengthens the company’s balance sheet while limiting potential shareholder dilution.
Fred Thiel, MARA’s chairman, explained that the decision to sell some Bitcoin reflects a capital allocation strategy designed to reduce debt and preserve shareholder value, while providing the company with more optionality as it broadens its focus beyond pure-play Bitcoin mining.
MARA said in a recent filing that the company would sell Bitcoin “from time to time” as part of its capital and liquidity strategy in 2026.
At the end of February, the Bitcoin miner held 53,822 BTC. Following the latest sale, the company’s BTC stash now sits at 38,689 coins, valued at $2.7 billion at current market prices.
With the update, MARA has moved to third place after Twenty One Capital among corporate Bitcoin holders.
The Bitcoin-native public company backed by Tether Investments and Bitfinex now owns 43,514 BTC.
Source: https://cryptobriefing.com/mara-bitcoin-asset-sale-debt-repurchase/
