MARA sells 15,133 BTC for $1.1 billion, buys back $1 billion of 2030 convertible notes

MARA Holdings said it has repurchased about $1 billion of its zero-coupon convertible senior notes due 2030 at an approximately 9% discount. The company said the transaction cuts its convertible debt by roughly 30% and captures about $880 million in value, while fully removing future dilution risk tied to the retired notes. MARA said the buyback was funded entirely through Bitcoin sales rather than additional equity issuance via an ATM program. The company added that the move is intended to strengthen its balance sheet and increase strategic flexibility as it expands into digital energy and AI/HPC. Separately, MARA disclosed that it sold 15,133 Bitcoin from March 4 to March 25, 2026, generating about $1.1 billion in gross proceeds. The company said the proceeds are expected to be used for the note repurchase, with the remainder allocated to general corporate purposes.