MARA Holdings Pledges $1.2B in Bitcoin for $600M Loan
MARA Holdings has secured $600 million in new loans by pledging 18,750 Bitcoin as collateral. The financing came from Coinbase Credit and Two Prime Lending, with interest rates ranging from 7.5% to 7.65%, maturing in 2028.
The loan will support MARA's acquisition of Long Ridge Energy & Power and its expansion into energy, Bitcoin mining, AI, and high-performance computing.
This move increases liquidity for the company but also adds margin risk if Bitcoin prices fall, as MARA must maintain collateral ratios or face potential liquidation of pledged BTC.