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MARA plans to issue $850 million in convertible bonds for potential Bitcoin purchases and other uses.
Bitcoin mining company MARA Holdings announced plans to privately issue $850 million of zero-coupon convertible bonds, maturing in 2032.
The company will determine the issuance process based on market conditions and plans to offer the initial subscribers an over-allotment option of up to $150 million. The raised funds will be used for potential purchases of Bitcoin and other general corporate purposes.