Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The mining firm MARA Holdings has divested 15,133 bitcoins for $1.1 billion to settle debts related to its zero-coupon convertible bonds.
The maturity dates for these securities are set for 2030 and 2031. The sales occurred between March 4 and March 25, with transaction closures anticipated by March 31.
MARA Holdings repurchased its 2030 convertible bonds worth $367.5 million at a discount for $322.9 million, and the 2031 bonds valued at $633.4 million for $589.9 million. Overall, the company achieved savings of approximately $88.1 million. As a result of the buyback, MARA’s total convertible debt has been reduced by about 30% — from $3.3 billion to $2.3 billion.
Earlier in March, MARA revised its policy regarding treasury bonds for 2026 — the company can now sell not only newly mined bitcoins but also those held on its balance sheet. In 2024, MARA followed a full-HODL strategy, opting not to sell bitcoins for long-term storage in anticipation of future cryptocurrency appreciation.
Related Posts
CEO Fred Thiel emphasized that the bitcoin sales do not signify a departure from the previous accumulation strategy but rather represent “prudent balance sheet management.”
“By repaying the debt with a face value exceeding $1 billion at a discount, we saved about $88 million that would have otherwise been lost. We reduced potential shareholder dilution and utilized our reserve bitcoins to alleviate debt on favorable terms,” stated Fred Thiel.
The company acquired a 64% stake in Exaion, a subsidiary of the French firm EDF (Électricité de France), which provides infrastructure for high-performance computing, blockchain solutions, and AI. MARA has also entered into an agreement with Starwood Capital Group to develop data centers.
At the end of 2025, MARA held 53,822 bitcoins valued at $3.73 billion. Even after the recent sale of 15,133 coins, the company remains one of the largest corporate bitcoin holders globally, second only to Michael Saylor’s Strategy and Jack Mallers’ Twenty One Capital, according to Bitcoin Treasuries data.
Last year, Fred Thiel remarked that bitcoin mining is becoming unprofitable due to intense competition. He believes that only miners with easy access to electricity will thrive in this industry.
