MARA Secures $600M in Bitcoin-Backed Loans for Expansion

MARA Holdings has secured $600 million in new financing by pledging 18,750 Bitcoin as collateral, a strategic move to fund its expansion into energy infrastructure and artificial intelligence without selling a significant portion of its cryptocurrency holdings. The transactions, completed on August 4, 2026, were detailed in a quarterly filing with the U.S. Securities and Exchange Commission.

The financing consists of two separate lending facilities. Coinbase Credit provided a $450 million facility, which includes $300 million in new funding and the refinancing of MARA's existing $150 million credit line. Two Prime Lending supplied a separate $300 million term loan. The combined principal is $750 million, but only $600 million represents new borrowing. Both loans mature in August 2028.

The pledged Bitcoin, valued at approximately $1.2 billion when the transactions closed, represents about 53% of the 35,577 BTC MARA reported holding at the end of the second quarter. This collateral arrangement allows the company to access liquidity while maintaining its overall exposure to Bitcoin's price movements. However, it also introduces risk; if Bitcoin's value drops significantly, MARA...