05:37 PM EST, 12/04/2024 (MT Newswires) -- MARA Holdings ( MARA ) said Wednesday it sold $850 million of zero-coupon convertible senior notes due 2031 in a private offering to institutional investors.

The company said the net proceeds were $835.1 million, of which about $48 million will be used to repurchase existing convertible notes maturing in 2026.

The balance will be used to acquire additional bitcoin and for general corporate purposes, it said.