Bitcoin Mining Giant MARA to Issue $850 Million in Zero-Coupon Convertible Bonds

Mara Holdings, a Nasdaq-listed company and the industry leader in Bitcoin holdings, announced on July 23rd plans to issue $850 million (approximately 124 billion yen) in zero-coupon convertible bonds, maturing in 2032. The bonds will be issued in a private placement to qualified institutional buyers, with an additional issuance option of $150 million set. The majority of the funds raised will be allocated to additional purchases of Bitcoin (BTC), aiming to expand its BTC portfolio. Currently owning 50,000 BTC, the company focuses on Bitcoin mining and digital energy infrastructure as its core businesses, striving to strengthen its position in the cryptocurrency market.