MARA Borrows $600 Million Against Bitcoin to Fund AI and Energy Expansion

MARA Holdings has borrowed $600 million against its Bitcoin treasury to fund expansion into AI and energy infrastructure. The company secured two credit facilities, one from Coinbase for $450 million and another from Two Prime for $300 million, both maturing in August 2028.

The funds will primarily be used for the acquisition of the Long Ridge power-generation site, which is expected to support up to 2 gigawatts of capacity. MARA plans to direct the generated power towards AI and high-performance computing workloads alongside traditional energy infrastructure.

This move follows MARA's refinancing of older debt on August 6, 2026, as part of a broader $750 million facility arrangement. The Long Ridge acquisition faces a deadline of November 30, 2026, subject to regulatory approvals.