MARA Locks Up $600 Million in New Debt Pledging 18,750 BTC

MARA (NASDAQ: MARA) has secured $600 million in new debt by pledging 18,750 BTC to Coinbase Credit and Two Prime Lending. This move will help finance the company's expansion into power generation and AI infrastructure.

The pledged tokens were valued at approximately $1.2 billion when the transactions closed on Aug. 4. The facilities have a combined principal of $750 million, with $450 million from Coinbase Credit including the refinancing of an existing $150 million credit line.

The company plans to use the new proceeds for general corporate purposes, including part of the cash consideration for its planned acquisition of Long Ridge Energy & Power LLC. This deal has an enterprise value of approximately $1.5 billion, including assumed debt.