MARA Locks 18,750 BTC Behind $600M in New Loans

MARA Holdings has secured $600 million in new loans by pledging 18,750 BTC to Coinbase Credit and Two Prime Lending. The loan facilities have a combined principal amount of $750 million, with the majority being refinanced from existing lines of credit.

The pledged BTC is valued at approximately $1.2 billion, leaving over half of MARA's estimated Bitcoin holdings as collateral-based. This move provides the company with additional liquidity without having to sell off a significant portion of its Bitcoin assets on the spot.

The financing will support MARA's expansion efforts into energy infrastructure and future AI and high-performance computing applications. The company plans to use the funds for general corporate functions, including paying part of the cash settlement for its soon-to-be-acquired Long Ridge Energy & Power.