Blockchain technology firm MARA Holdings has announced a private offering of $700 million in convertible senior notes due in 2030. The notes will be offered to qualified institutional buyers, with an option for buyers to purchase an additional $105 million. MARA plans to use $200 million of the proceeds to repurchase some of its outstanding 2026 convertible notes. The rest of the funds will be used for various purposes, including accumulating bitcoin, expansion, acquisitions, and debt repayments. However, the announcement was met with a negative response from the market, with share prices falling 5% in pre-market trading. This move by MARA follows similar announcements by Metaplanet and MicroStrategy.



Other News from Today