07:27 AM EST, 12/02/2024 (MT Newswires) -- MARA Holdings ( MARA ) said Monday it plans to offer $700 million of 0% convertible senior notes due 2031.

Initial buyers would likely have an option to buy up to an additional $105 million of the notes within a 13-day period of the issuance date, the company said.

MARA will likely use up to $50 million of the net proceeds to buy back a part of its existing convertible notes due 2026, it said, adding that the remainder would be allocated toward the acquisition of additional bitcoin and for general corporate purposes.