MARA Holdings sold 20,880 BTC for $1.5B in Q1

Nasdaq-listed Bitcoin mining company MARA Holdings (MARA) announced that it sold 20,880 BTC for approximately $1.5 billion in the first quarter of this year. According to Decrypt, the company used about $1 billion of the proceeds to repay convertible bonds, reducing its debt from approximately $3.3 billion to $2.3 billion. MARA also added that it plans to use the funds for the acquisition of Long Ridge Energy, a 505 MW power plant operator in Ohio.