MARA Holdings targets the issuance of $700 million through convertible bonds maturing in 2030.
Company Plans to Acquire Bitcoin
The company intends to allocate $200 million of the raised funds to repurchase its existing convertible bonds due in 2026. The remaining funds will be utilized for Bitcoin accumulation, company expansion, strategic acquisitions, and debt repayments.
MARA's Strategic Approach
This offering aligns with the debt-based Bitcoin acquisition strategies of MicroStrategy and Japan-based Metaplanet. Metaplanet's similar strategy of accumulating Bitcoin has significantly increased its BTC revenue, nearly doubling the company's value year-over-year.
Bonds as a Finalizing Step
Convertible bonds can be converted to cash or stock at MARA's discretion. Interest payments will be made semi-annually; however, all details have yet to be finalized.
MARA Holdings' plan to issue convertible bonds aims to support its goals of increasing Bitcoin accumulation and company growth.
