MARA Holdings has repurchased approximately $1.0 billion worth of convertible notes at a discount of around 9%, according to the company. The transaction allowed the firm to capture roughly $88 million in value. The move signals an active effort by the company to manage its debt obligations strategically.
The repurchase was funded through the sale of 15,133 bitcoin, with the proceeds directed toward completing the transaction. Any remaining funds from the sale are expected to improve the company’s liquidity position. MARA also indicated that the leftover proceeds would support broader strategic initiatives, though no specific plans were detailed.
Following the announcement, MARA shares climbed approximately 10% in premarket trading on Thursday. The market response suggests investors viewed the debt repurchase favorably. A discount of this size on convertible notes is generally seen as a positive outcome for the issuing company’s balance sheet.
Originally reported by CoinDesk.
