Crypto mining company MARA Holdings has completed a $1 billion offering of zero-interest convertible senior notes, marking the largest convertible notes offering ever among Bitcoin miners. The majority of the proceeds will be used to fund future Bitcoin purchases, with the company currently holding around 27,562 BTC valued at approximately $2.6 billion. The notes can be converted into cash or MARA common stock at the company's discretion. MARA plans to repurchase some of its existing convertible notes and allocate the remaining capital for Bitcoin acquisition and general corporate purposes.



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