MARA Mining Company sells 15,133 Bitcoins to settle a debt of $1 billion.

• Average sale price: $65,300
• Average purchase cost: $80,900
• Loss per Bitcoin: approximately $15,600

15,133 × $15,600 ≈ $236 million loss

It's true they saved about $88 million because they bought back their debt at a 9% discount,

But ultimately:
The net loss is approximately $148 million. The company reduced its debt, but paid a high price for it.

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