MARA Holdings sells $1.1B Bitcoin, cuts debt

MARA Holdings has successfully sold 15,133 bitcoin for approximately $1.1 billion to repurchase nearly $1 billion of its convertible notes. This strategic move, executed between March 4 and March 25, reduced the company's outstanding convertible debt by about 30%, significantly lowering dilution risk and strengthening its balance sheet. The transaction generated approximately $88 million in value through discounted note repurchases. CEO Fred Thiel stated this capital allocation strengthens the company for long-term growth, including expansion into AI and energy infrastructure. MARA now holds 38,689 bitcoin.