MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming
By Micah Zimmerman
AI summary of the source article
MARA Holdings sold 13,597 bitcoin for roughly $1.1 billion after the third quarter, using $750 million to pay off all bitcoin-backed term loans. The company stated plans to continue selling bitcoin to fund AI infrastructure and share repurchases.
Why it matters
MARA stated it intends "to continue using bitcoin to build cash for purposes such as AI infrastructure opportunities, to satisfy the puts on our convertible notes that become exercisable next year, and potential share repurchases."
Key facts
- MARA sold 13,597 bitcoin for approximately $1.1 billion at an average price of around $81,039 each.
- The sale repaid $750 million in bitcoin-backed term loans and returned 17,477 pledged bitcoin.
- MARA's board authorized a common stock buyback of up to $500 million after the quarter ended.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming MARA sold about 40% of its bitcoin stack after Sept. 30, used $750 million to repay all its BTC-backed term loans and said it will keep selling to fund AI infrastructure, convertible note puts and buybacks. This post MARA Sells 13,597 Bitcoin for $1.1 Billion, Says More Sales Are Coming first appeared on Bitcoi…