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Between March 4 and March 25, Bitcoin miner MARA Holdings sold 15,133 BTC for approximately $1.1 billion. The proceeds are being used by the company to repurchase its own bonds.
According to the press release, the firm has entered into private settlement agreements with some holders of zero-coupon senior convertible securities with maturities in 2030 and 2031.
The buyback operations are planned to be completed by the end of March 2026. Thanks to these deals, MARA will save about $88.1 million. Additionally, they will help reduce "outstanding debt and potential future dilution related to the possibility of bond conversion."
The miner's total debt on securities after the announced redemption round will be approximately $2.3 billion.