MARA Holdings, a Nasdaq-listed Bitcoin miner is moving into digital power and smart infrastructure, on Thursday. to be revealed that it sold 15,133 Bitcoins worth about $1.1 Billion in three weeks this month to pay for the redemption of its convertible notes for 2030 and 2031.
The move reduces outstanding debt by about 30%, taking on $88 million in cash, while strengthening the company’s cash flow and reducing shareholder dilution.
Fred Thiel, the chairman of MARA, explained that the decision to sell Bitcoin shows a method of distribution of funds that is designed to reduce debt and maintain shareholder value, while providing the company with more options as it expands its interest beyond Bitcoin mining.
MARA he said in recent filings that the company will sell Bitcoin “from time to time” as part of its investment and revenue streams in 2026.
At the end of February, Bitcoin mining held 53,822 BTC. Following the recent sale, the company’s BTC stash now sits at 38,689 coins, valued at $2.7 billion at current market prices.
With this change, MARA has moved to third place after Twenty One Capital among Bitcoin holders.
The public Bitcoin company backed by Tether Investments and Bitfinex now has 43,514 BTC.
