MARA Holdings, a Nasdaq-listed Bitcoin miner, has pledged 18,750 BTC as collateral to secure a $600 million loan within a broader $750 million facility. Coinbase contributed $450 million while Two Prime provided $300 million, with maturity dates in August 2028. This transaction immobilizes 54% of the company’s Bitcoin treasury, representing approximately $1.2 billion at the time of the transaction. The funds will finance the acquisition of the Long Ridge energy site, with a capacity of 2 gigawatts, to pivot toward artificial intelligence and high-performance computing rather than Bitcoin mining alone. MARA also reported a reduced treasury of 35,577 BTC in the second quarter, with a net loss of $611.3 million during the period.
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