TechFlow news — On October 16, according to TheMinerMag, bitcoin mining company MARA announced a $200 million credit facility secured by a portion of its bitcoin holdings. The company stated it will use the funds to capture strategic opportunities and for general corporate purposes. While MARA did not disclose specific terms, recent industry agreements suggest a loan-to-value ratio of approximately 70% and a weighted average interest rate of 4.2%. Based on this, MARA may need to pledge around 4,000 bitcoins as collateral.
Two months ago, MARA issued $300 million in convertible notes at an interest rate of 2.125%, using $250 million of the proceeds to purchase 4,144 bitcoins. As of September 30, MARA held 26,842 bitcoins, with a current value of approximately $1.8 billion.
