MARA Holdings borrows $750M against BTC collateral

Nasdaq-listed Bitcoin miner MARA Holdings said on Aug. 12 it borrowed a total of $750 million against 18,750 BTC, according to a quarterly report filed with the U.S. SEC. The company said the proceeds will be used to expand its energy generation and AI infrastructure businesses. MARA Holdings signed Bitcoin-backed loan agreements with two firms. Under its agreement with Coinbase Credit, the company consolidated and refinanced an existing $150 million credit facility while securing $300 million in new funding. A second loan provided $300 million from Two Prime Lending. That put the total principal across the two loans at $750 million, while net new funding came to $600 million after excluding the refinancing of the existing $150 million loan. The 18,750 BTC pledged as collateral was initially valued at about $1.2 billion when the agreements were signed.