MARA Miner Sells 15,133 BTC for $1.1 Billion

MARA Holdings sold 15,133 BTC for $1.1 billion to repurchase bonds.

Between March 4 and 25, bitcoin miner MARA Holdings sold 15,133 BTC for approximately $1.1 billion. The proceeds will be used by the company to repurchase its own bonds.

According to a press release, the firm entered into private agreements for redemption with certain holders of zero-coupon convertible senior notes due in 2030 and 2031.

The buyback operations are planned to be completed by the end of March 2026. Through these transactions, MARA will save about $88.1 million. Additionally, they will reduce “outstanding debt and potential future capital dilution associated with the possibility of bond conversion.”

The miner’s total debt on securities after the announced redemption round will amount to about $2.3 billion.

“Our decision to sell part of our bitcoin assets reflects a strategic capital allocation move aimed at strengthening the balance sheet and ensuring the company’s long-term growth. […] This transaction enhances financial flexibility and expands strategic opportunities as we move beyond mining into the realm of digital energy and AI infrastructure,” said MARA CEO Fred Thiel.

Leadership Shuffle

Following the sale, MARA moved to third place among the largest holders of the leading cryptocurrency among public companies. At the time of writing, the miner’s reserves are estimated at 38,689 BTC.

Treasury firm Twenty One Capital rose to second place with 43,514 BTC. Strategy remains in the top spot with 762,099 BTC.

Amid the bond buyback announcement, MARA shares jumped 12% after the trading session opened.

In March, MARA published its financial report for the fourth quarter of 2025. The net loss amounted to $1.7 billion compared to a profit of $528.3 million the previous year.