MARA Stock Jumps as Company Sells $1.1B Bitcoin to Buy Back $1B Debt at a Discount
MARA sold 15,133 Bitcoin for $1.1 billion to repurchase $1 billion in convertible notes at a 9% discount, saving $88 million and reducing its debt.
MARA sold 15,133 Bitcoin for $1.1 billion to repurchase $1 billion in convertible notes at a 9% discount, saving $88 million and reducing its debt.
Ethereum climbs above $2,300 as BitMine adds $139.7M in tokens, ending mini-crypto winter per Tom Lee. ETF inflows return amid strong rally.
Bitcoin mining profits have tanked with BTC down ~50% from its 2025 peak. Miners like Core Scientific are selling holdings and shifting to AI to stay alive in tough times.
Morgan Stanley gives Mara Holdings (MARA) an Underweight rating and $8 target, citing bitcoin mining economics and limited upside from data center transitions.
Citigroup forecasts bitcoin reaching $143,000 and ethereum $4,304 within 12 months, citing regulatory improvements and growing adoption despite recent market volatility.