Bitcoin listed mining company MARA plans to raise $700 million to buy more BTC by issuing convertible senior notes

According to official information, the bitcoin-listed mining company MARA announced that it plans to raise $700 million through the issuance of convertible preferred notes to purchase more . It is reported that the notes will be MARA's unsecured senior debt and will bear interest, payable semi-annually on March 1 and September 1 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 in 2026, and the remaining net proceeds will be used to purchase more 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.