MARA Locks Up 18,750 BTC for $600 Million in Loans

MARA, a mining company, has secured two significant loans backed by a substantial amount of Bitcoin. The firm pledged 18,750 BTC to secure $450 million from Coinbase Credit and $300 million from Two Prime Lending.

The collateralized coins were valued at approximately $1.2 billion at the time of the transactions, representing nearly 53% of MARA's total holdings of 35,577 BTC as of June 30.

If the price of Bitcoin falls, MARA is required to provide additional collateral or risk having the lenders liquidate the pledged assets.