MARA Holdings said in its latest quarterly filing with the U.S. Securities and Exchange Commission that it pledged 18,750 BTC as collateral for two bitcoin-backed loans totaling $750 million in principal. The financing package includes a refinancing of an existing $150 million credit facility from Coinbase Credit, plus an additional $300 million from the same lender. Two Prime Lending provided another $300 million. MARA said both loans have been fully drawn.
The company put the blended financing cost at about 7.56%, with the debt maturing primarily in August 2028. At the time the transactions were completed, the pledged bitcoin was worth about $1.2 billion. The filing also stated that if bitcoin’s price falls and the collateral ratio drops below agreed levels, MARA could be required to post additional collateral. If it does not, the pledged BTC could face liquidation.
MARA said the new capital will be used for general corporate purposes and to support its acquisition of Long Ridge Energy & Power, a deal valued at about $1.5 billion. Long Ridge owns a natural gas power plant in Ohio with expected capacity of 505 MW and more than 1,600 acres of industrial land. MARA plans to develop the site into a base for bitcoin mining, AI, and high-performance computing infrastructure.
MARA Holdings disclosed in its latest quarterly filing with the U.S. Securities and Exchange Commission that it has pledged 18,750 BTC as collateral for two bitcoin-backed loans with total principal of $750 million.
The filing said the financing from Coinbase Credit includes a refinancing of an existing $150 million credit facility and an additional $300 million in new funding. Two Prime Lending provided another $300 million loan. MARA said both facilities have been fully drawn, with a blended financing cost of about 7.56% and maturities falling primarily in August 2028.
Collateral was worth about $1.2 billion when the deals closed
The 18,750 BTC pledged in the transactions was worth about $1.2 billion at closing, according to the filing. MARA also said that if bitcoin declines and the collateral ratio falls below the agreed threshold, the company could face margin calls for additional collateral. If that does not happen, the pledged BTC could be subject to liquidation.
Funds will back general corporate needs and the Long Ridge acquisition
MARA said the new capital will be used mainly for general corporate purposes and to support its acquisition of Long Ridge Energy & Power. The transaction carries an enterprise value of about $1.5 billion.
Long Ridge owns a natural gas power plant in Ohio with expected installed capacity of 505 MW, along with more than 1,600 acres of industrial land. MARA plans to develop the site into a hub for bitcoin mining, AI, and high-performance computing infrastructure.
Crowdfund Insider was cited as the source in the Odaily report.
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