PANews reported on November 18 that according to official news, MARA, a listed Bitcoin mining company, announced that it plans to raise US$700 million through the issuance of convertible senior notes to purchase more BTC. The notes will be MARA's unsecured senior debt and will bear interest, payable semi-annually on March 1 and September 1 of each year starting from March 1, 2025.
MARA expects to use up to $200 million of the net proceeds from the sale of the notes to repurchase a portion of its existing convertible notes due 2026, with the remaining net proceeds to be used to purchase additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.
