Morningstar

Mara Holdings Shares Rise on Bitcoin Sales, Senior Note Repurchase Agreements

Provided by Dow Jones

By Elias Schisgall 




  Shares of Mara Holdings rose after the company agreed to buy back $1 billion worth of outstanding senior notes using proceeds from the sale of $1.1 billion worth of bitcoin. 



  Shares were up 12% to $9.25 in Thursday morning trading. The stock has fallen 33% over the past year. 



  The digital energy and infrastructure company on Thursday said it had agreed to buy back $367.5 million in aggregate principal amount of senior notes due 2030 and $633.4 million worth of notes due 2031. 



  The company is repurchasing the notes at a discount, saving roughly $88.1 million before transaction costs, it said. 



  The repurchases are expected to be funded through the company's sale of 15,133 bitcoin for around $1.1 billion in aggregate. The bitcoin sales took place between March 4 and March 25. 



  "By retiring over $1 billion of face value debt at a discount, we captured approximately $88 million in value that would otherwise have been lost, reduced potential shareholder dilution, and leveraged our bitcoin holdings to meaningfully de-lever the balance sheet on our terms," Chief Executive Fred Thiel said. 



  "This transaction enhances financial flexibility and increases strategic optionality as we expand beyond pure-play bitcoin mining into digital energy and AI/HPC infrastructure," Thiel added. 





  Write to Elias Schisgall at elias.schisgall@wsj.com 





  (END) Dow Jones Newswires



  March 26, 2026 10:33 ET (14:33 GMT)


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