MARA Holdings Borrows $600 Million Against BTC for AI-Friendly Power Plant
MARA Holdings has secured $600 million in Bitcoin-backed loans by pledging 18,750 BTC to finance a new power-generation site aimed at supporting AI and high-performance computing.
The company plans to use this facility to diversify beyond mining into energy infrastructure, a strategic shift that comes despite a net loss of $611 million in Q2 2026 due to Bitcoin valuation adjustments.
The loans are part of a $750 million facility with Coinbase and Two Prime, which mature in 2028. The power plant deal is pending regulatory approval, expected to close by November 2026.