From BigGo Finance · BigGo Finance · · 1m 10s
MARA Cashes Out Bitcoin, Repays Loan as Holdings Drop
MARA Holdings sells 13,597 Bitcoin to repay $750 million loan, cutting pledged holdings below 5%.
In brief
MARA Holdings sells 13,597 Bitcoin to repay $750 million loan, cutting pledged holdings below 5%. MARA Holdings sold 13,597 Bitcoin to repay $750 million collateralized loan, reducing pledged holdings to below 5%. Originally reported by BigGo Finance.
MARA Sells Bitcoin
MARA Holdings sold 13,597 Bitcoin since end of September, raising about $1.1 billion.
Repaying $750 Million Loan
MARA deployed $750 million to repay Bitcoin-collateralized loan, cutting pledged holdings from 57% to below 5%.
AI Infrastructure Funding
MARA will use Bitcoin sales to fund AI infrastructure, convertible bond obligations, and potential stock buybacks.
Quarterly Revenue Drop
Third-quarter revenue fell 35% year over year to $164.2 million, missing market expectations.
Unrealized Gain
Net income of $632.1 million included $885.3 million unrealized Bitcoin gain.
Data Center Leases
Two data center leases expected by year-end may slip into 2027, affecting transformation strategy.
Long Ridge Acquisition
Long Ridge natural gas plant acquisition approved by FERC, expected to close by year-end.
GPU Contract Signed
Exaion signed $79 million GPU contract with first U.S. customer on 100% take-or-pay terms.
In short
MARA Holdings sold 13,597 Bitcoin to repay $750 million collateralized loan, reducing pledged holdings to below 5%.
