MARA Holdings Pledges 18,750 BTC as Collateral for Bitcoin-Backed Loans
MARA Holdings has taken a significant step in leveraging its substantial Bitcoin reserves by committing 18,750 BTC as collateral for newly arranged credit facilities. The move secures $750 million in additional borrowings to advance MARA's strategic shift toward energy generation and artificial intelligence infrastructure.
The firm finalized two Bitcoin-backed term loan arrangements on August 4, 2026: one with Coinbase Credit providing $300 million of fresh capital, and another from Two Prime Lending contributing another $300 million. The combined principal has been fully drawn and carries maturities in early August 2028.
The collateral pledge carried a fair value of roughly $1.2 billion at closing, representing a substantial portion of MARA's treasury. This financing approach allows the company to access non-dilutive capital while retaining upside exposure on its remaining Bitcoin holdings rather than selling additional coins or issuing equity.