MARA sells 15,133 BTC for about $1.1B, buys back $1B of convertible notes at 9% discount

MARA Holdings sold 15,133 BTC between March 4 and March 25, generating roughly $1.1B in proceeds. The company used the funds to repurchase $1B face value of convertible notes due in 2030 and 2031 at a 9% discount to par. The transaction delivers about $88M in savings, cuts total convertible debt by roughly 30%, and lowers potential shareholder dilution tied to note conversions. After the repurchase closes, MARA's total outstanding debt is expected to fall from $3.3B to $2.3B.