MARA Stock Drops Amid Larger Bitcoin-Backed Financing Deal

MARA Holdings (NASDAQ:MARA) saw its stock drop by 10.9% last week, despite Bitcoin's 3.1% gain. This decline came after the company released unaudited quarterly figures and announced a significantly larger bitcoin-backed financing deal.

The new arrangement introduces $600 million in new debt and restructures a current $150 million credit line. One of the loans has a fixed rate of 7.65%, while the other's rate is variable, set at the midpoint of the federal-funds rate plus 3.875 percentage points.

Meanwhile, the principal for the comparable facility increased fivefold to $750 million from $150 million, and BTC collateral expanded 4.4 times, reaching 18,750 coins from 4,253.