MARA Holdings Strengthens Balance Sheet, Reduces Convertible Debt by 30% with Bitcoin Sale

MARA Holdings has sold 15,133 bitcoins for $1.1 bln and used $1 bln to repurchase convertible debt, reducing outstanding convertible debt by 30%. This move strengthens the balance sheet, frees up financial capacity for MARA's push into digital energy and AI-focused infrastructure, and may reshape its investment narrative beyond pure crypto mining. The company's pivot to a broader digital infrastructure platform remains a key risk.