Mara Secures $600M in Bitcoin-Backed Loans
MARA has secured $600 million in new debt by pledging 18,750 Bitcoin to finance its expansion into power generation and AI infrastructure. The loans come from Coinbase Credit and Two Prime Lending, with a combined principal of $750 million including refinancing.
The financing highlights MARA's strategy of leveraging its Bitcoin reserves for liquidity, supporting its planned $1.5 billion acquisition of Long Ridge Energy & Power, which includes a gas-fired power plant and industrial land for mining and AI projects.
Despite a recent net loss due to falling Bitcoin prices, MARA is using these funds for general corporate purposes and growth initiatives.