Mara Holdings shares jump after selling 15,133 bitcoin for $1.1B

In a regulatory filing, Mara Holdings (MARA) announced that on March 25, the company entered into individual, privately negotiated repurchase agreements with certain holders of its outstanding 0.00% Convertible Senior Notes due 2030 and 0.00% Convertible Senior Notes due 2031 to repurchase approximately $367.5M in aggregate principal amount of the 2030 Notes for an aggregate cash repurchase price of approximately $322.9M and approximately $633.4M in aggregate principal amount of the 2031 Notes for an aggregate cash repurchase price of approximately $589.9M. The repurchases of the 2030 Notes and the 2031 Notes are expected to close on March 30, 2026 and March 31, 2026, respectively, subject to the satisfaction of customary closing conditions. Between March 4 and March 25, 2026, the company sold 15,133 bitcoin for an aggregate sale price of approximately $1.1B. The company expects to use the proceeds from the bitcoin sales to fund the notes repurchase transactions, with the remainder available for general corporate purposes. Shares are up 8.5% to $8.98 in morning trading.