Gate News: On March 26, MARA Holdings announced a buyback of approximately $1 billion in zero-coupon convertible senior notes due 2030 at about a 9% discount. This buyback reduces the company’s convertible debt by approximately 30%, capturing about $88 million in value and fully eliminating the future dilution risk from retired bonds. The funds for this buyback were entirely sourced from Bitcoin sales, not through issuing new shares via ATM. MARA stated that this move aims to strengthen its balance sheet and provide greater strategic flexibility for expansion into digital energy and AI/HPC sectors. Between March 4 and March 25, MARA sold 15,133 Bitcoin, totaling approximately $1.1 billion, with the proceeds expected to be used for the note repurchase and the remaining funds for general corporate purposes.
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