MARA Rises on $1.1b Bitcoin Sale to Buy Back Conv Sr Notes (1)

(Updates with share price move.)

MARA Holdings shares rose 7.7% in premarket trading after the Bitcoin miner and data center operator sold about $1.1 billion of Bitcoin and agreed to buy back $1 billion of convertible senior notes.

• Entered into privately negotiated repurchase agreements to buy back $1.0 billion 0.00% convertible senior notes due 2030 and 2031.
• To buy back about $367.5 million 2030 notes for about $322.9 million
• To buy back $633.4 million 2031 notes for about $589.9 million
• Sold 15,133 Bitcoin for about $1.1 billion between March 4 and March 25
• Expects to use proceeds from Bitcoin sales to fund ...