Crypto
MARA Takes Out $600 Million in New Borrowing Secured by Bitcoin Collateral
MARA Holdings has taken out $600 million in new borrowing secured by Bitcoin collateral to fund its planned acquisition of Long Ridge, a power-generation site it aims to develop for AI and high-performance computing.
The company sold almost all the Bitcoin it mined during the second quarter, equaling 91.37% of its 2,422 BTC output, before entering into new facilities with Coinbase and Two Prime.
The collateral pool is clear, but the overlap between pledged and loaned Bitcoin is not disclosed, making it impossible to calculate a margin-call threshold or forced sale price for MARA's remaining 18,750 BTC.