World’s Largest Bitcoin Miner MARA Raises $850M to Expand 50K BTC TreasuryWorld's largest Bitcoin miner MARA raises $850M through convertible notes to expand 44,893 BTC treasury amid mining profitability pressures.

MARA Holdings, the world’s largest Bitcoin mining company, announced plans to raise $850 million through zero-coupon convertible senior notes due 2032 to expand its existing treasury of 44,893 BTC.

According to its official press release, the Miami-based digital energy company expects to grant initial purchasers an additional $150 million option, potentially bringing the total offering to $1 billion.

MARA will allocate up to $50 million of net proceeds to repurchase existing 1.00% convertible senior notes due 2026, while dedicating the remainder to Bitcoin purchases, capped call transaction costs, and general corporate purposes.

The convertible notes will carry no regular interest payments and mature on August 1, 2032, with holders gaining conversion rights into cash, MARA common stock, or a combination at the company’s discretion.