In a recent press release, MARA Holdings drew the attention of Bitcoin enthusiasts regarding its latest $850 million operation in BTC. The BTC miner aims to raise this enormous amount through a private placement of zero-coupon convertible senior bonds.
According to a report filed with the SEC on Wednesday, the offer is open only to qualified institutional buyers and allows initial buyers to acquire an additional $150 million in bonds, which could increase the total fundraising to $1 billion. $50 million of the funds raised will be allocated to repurchase a portion of the company's 2026 convertible bonds. The rest of the funds will be used for debt repurchase, limit buy operations, Bitcoin accumulation, and general corporate purposes. The firm stated:
"MARA also plans to grant initial bond buyers a purchase option, within a period of 13 days from the date of its first issuance, inclusive, for a total principal amount of up to $150 million. The offer is subject to market conditions and other factors, and there is no guarantee that it will be completed, when or under what conditions".
