MARA Secures $600M Debt via 18,750 Bitcoin Stake for AI and Power Expansion

MARA leveraged 18,750 Bitcoin as collateral for $600M in new debt to fund power generation and AI infrastructure, with total principal reaching $750M.

Woofun AI reports that MARA has secured two loans totaling $750 million in principal, fully drawn down against 18,750 Bitcoin collateral valued at approximately $1.2 billion. Coinbase Credit provided $450 million, covering the refinancing of an existing $150 million line and an additional $300 million, while Two Prime Lending contributed another $300 million. The Coinbase facility carries a variable rate of 3.875 percentage points above the Federal Reserve's target midpoint, maturing on August 4, 2028, whereas the Two Prime Lending loan features a fixed rate of 7.

65%, expiring on August 3, 2028. Assuming unchanged principal, annual interest expenses are estimated at $56.7 million. MARA intends to use the proceeds for general corporate purposes, including cash payments for the acquisition of Long Ridge Energy & Power LLC, which owns a 505-megawatt gas-fired plant and over 1,600 acres of industrial land planned for power generation, Bitcoin mining, and potential AI facilities.