MARA Holdings sold 2,213 Bitcoin during the second quarter, equal to 91.37% of the 2,422 BTC it mined, before pledging 18,750 BTC as collateral to secure $600 million of new borrowing tied to its planned acquisition of Long Ridge, a power-generation site the company aims to develop for AI and high-performance computing.
According to MARA's quarterly filing, the new borrowing sits inside $750 million of fully drawn credit facilities entered into on Aug. 4.
- Coinbase provided a $450 million facility, comprising $300 million of new borrowing and the refinancing of an existing $150 million loan.
- Two Prime provided a separate $300 million loan.
