Crypto

MARA Stock Pops on $1.1 Billion Bitcoin Sale as BTC Miner Buys Back Convertible Debt

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In brief

  • MARA Holdings described a $1.1 billion Bitcoin sale as part of a strategic capital allocation aimed at reducing its exposure to debt.
  • The company was able to repurchase convertible notes at a discount to par, effectively deleveraging its balance sheet, according to CEO Fred Thiel.
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