Share this article
MARA to Offer $700M Convertible Senior Note, Shares Fall 5%
MARA holdings announce a $700 million convertible senior note due 2030, plans to acquire more bitcoin.
Updated Nov 18, 2024, 12:46 p.m. Published Nov 18, 2024, 12:43 p.m.
- MARA holdings announce a private offering of $700 million in convertible senior notes due 2030.
- MARA intends to use up to $200 million of the proceeds to repurchase a portion of its outstanding 2026 convertible notes.
- The offering includes an option for purchasers to acquire an additional $105 million in notes.
MARA Holdings (MARA) announced a private offering of $700 million in convertible senior notes due 2030. The notes will be offered to qualified institutional buyers and will include an option for buyers to purchase an additional $105 million in notes.
The bitcoin miner plans to use up to $200 million of the proceeds to repurchase a part of its outstanding 2026 convertible notes.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The remainder of funds will be used to accumulate bitcoin and other general needs, such as expansion, strategic acquisitions and debt repayments.
The notes, which mature in 2030, can be converted into cash or shares based on MARA's discretion. The interest will be paid on a semi-annual basis, however the final terms of the notes are yet to be determined.
The market did not like the offering announcement with share prices falling 5% to $19.97 in pre-market trading.
MARA's plans comes close to the heels of similar announcement by Tokyo-listed Metaplanet and MicroStrategy (MSTR).
Mehr für Sie
Was Sie wissen sollten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
