Key Takeaways
- MARA Holdings has pledged 18,750 BTC (valued at $1.2 billion) for a $750 million loan from Coinbase and Two Prime.
- The loan matures in August 2028 at a 7.56% average cost, fully drawn.
- The loan supports the Long Ridge acquisition for AI, HPC, mining, and power expansion in Ohio.
- The deal advances MARA’s pivot from a pure mining firm to energy and AI infrastructure.
Bitcoin miner MARA Holdings has pledged 18,750 Bitcoin as collateral for loans totaling $750 million. In its latest quarterly SEC filing, the company disclosed the details.
The facilities include $450 million from Coinbase Credit and $300 million from Two Prime Lending. Funds from Coinbase will refinance an existing $150 million credit line and add $300 million in new funds. Two Prime Lending separately provides a $300 million loan.
Both loans are fully drawn and mature in August 2028. The weighted average cost of debt is about 7.56%.
JUST IN: Bitcoin miner MARA pledges 18,750 BTC to secure a $750M loan for expanding its AI and energy infrastructure.https://pbs.twimg.com/profile_images/1912767826005487616/PC5Pt5oJ_normal.jpg
At the time of the deal, the pledged Bitcoin was valued at roughly $1.2 billion. Bitcointreasuries.net data shows that MARA’s current Bitcoin holdings stand at 35,577 BTC. The pledged amount equals about 53% of the firm’s current BTC holdings.
If the value of BTC falls and the collateral ratio drops below the agreed levels, MARA could face margin calls.
The loan will support general corporate purposes. A key use is funding part of the cash for the planned acquisition of Long Ridge Energy and Power. This deal has an enterprise value of about $1.5 billion. In Ohio, Long Ridge owns a natural gas power plant with an expected capacity of 505 MW. It also includes more than 1,600 acres of industrial land.
MARA aims to develop the site for Bitcoin mining, power generation, high-performance computing, and AI. The move shifts the company’s focus towards energy infrastructure and digital assets beyond pure mining.
Earlier in 2026, MARA already sold large amounts of Bitcoin to manage its balance sheet.
The recent financing activity advanced MARA’s strategy in the growing AI and energy sectors within the crypto industry.
