Mara Holdings, a major crypto miner, said on Wednesday it plans to issue up to $1 billion of convertible senior notes to raise money for new Bitcoin purchases.
According to its announcement, the company will offer $850 million of these notes to qualified institutional purchasers. The notes are due to mature in 2032. In addition, investors can purchase up to $150 million more in principal, which could raise the total proceeds to $1 billion if the option is exercised.
Mara said the company plans to use up to $50 million of the net proceeds to repurchase a piece of its outstanding 1.00 percent convertible senior notes that mature in 2026. The balance of the funds will be set aside for capped‑call transaction fees, the purchase of Bitcoin at roughly $118,487 a coin, and general corporate expenses.
The new notes will rank as Mara’s senior unsecured obligations and won’t carry any interest payments. The offering remains subject to conditions such as the market, the company said, and it has not set a final date for pricing or completion of the sale.
Mara reiterated that BTC is central to its treasury strategy
In its latest remarks, the company reiterated that Bitcoin is central to its treasury strategy and that accumulating digital currency is a key part of its long‑term plan for growth.
This news follows Mara’s minority investment completion in Two Prime, an institutional adviser that oversees $1.75 billion in assets. The deal will significantly boost Bitcoin managed by Two Prime for Mara, the company said in a statement on Wednesday.
In early June, Mara reported that its Bitcoin output rose by 35 percent in May, despite ongoing higher difficulty in mining and a rising network hashrate. Figures from late May released by the company also showed its annual revenue from mining exceeded $752 million, setting a new record for its operations.
As of this publication, Mara is holding 50,000 BTC, serving as part of its digital asset reserve. With that amount, Mara ranks as the second-largest corporate BTC holder, behind Strategy, which reports 607,000 BTC in its own treasury.
The announcement follows a late‑March filing in which Mara said it had agreements with institutional investors to sell $2 billion of its stock. “We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,” the firm added.
Trump Media acquired $2 billion in BTC again
Trump Media, the parent of Truth Social, acquired about $2 billion in BTC this week and related securities to solidify its position as a company with a crypto treasury. It also allocated roughly $300 million for securities related to Bitcoin.
Trump Media said it will continue adding to its Bitcoin holdings and may convert the company’s options into BTC based on the conditions of the market. In May, the firm joined a growing list of companies following the crypto treasury model from Michael Saylor’s Strategy.
PSQ Holdings, in which Trump Jr. serves as a member of the board, has also said that it will be exploring a treasury strategy involving digital assets.
“These assets help ensure our company’s financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere,” said Devin Nunes, chief executive officer and president of Trump Media.
Based in Sarasota, Florida, Trump Media said it will use its BTC holdings to bring revenue. It may also purchase more crypto coins. Shares of Trump Media rose more than 7 percent following the announcement, though the company’s stock has fallen about 45 percent in 2025.
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