MARA has increased the issuance size of its convertible preferred stock to $850 million, with part of the proceeds to be used for increasing its Bitcoin holdings

ChainCatcher news, Bitcoin mining company MARA announced that the total principal amount of its 0.00% convertible senior notes maturing in 2031 has been increased to $850 million (initially announced as $700 million).

MARA also granted the initial purchasers of the notes an option to purchase up to $150 million in total principal amount of the notes within 13 days from the date of the initial issuance of the notes. The net proceeds will be used to purchase more Bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.