Cryptocurrency miner sold over $ 1.1 billion worth of bitcoins in just three weeks

Bitcoin miner MARA Holdings sold more than 15 thousand BTC worth about $ 1.1 billion between March 4 and March 25. The company will use the proceeds to redeem its own bonds, which will reduce its debt burden and reduce the risk of future capital dilution.

According to the press release, MARA has entered into private transactions with holders of zero-rated convertible senior securities due 2030 and 2031. The transactions are expected to be completed by the end of March 2026. The company is expected to save about $ 88.1 million.

After the buyback is completed, the total debt of the owner on securities will be approximately $ 2.3 billion. MARA CEO Fred Thiel said that the sale of part of the bitcoin assets is a strategic step to strengthen the company’s balance sheet and expand its capabilities beyond mining into digital energy and artificial intelligence infrastructure.

As a result of the transaction, MARA dropped to the third position among the largest public bitcoin holders, with its reserves estimated at 38,689 BTC. Twenty One Capital moved up to second place with 43,514 BTC, while Strategy remains the leader with 762,099 BTC.

Following the announcement of the bond buyback, MARA shares rose by 12% after the opening of the trading session. At the same time, the company recently released its financial report for the fourth quarter of 2025, where it recorded a net loss of $ 1.7 billion against a profit of more than half a billion dollars a year earlier.