Data: Bitcoin mining company MARA secures a $200 million credit line, using part of its BTC holdings as collateral

ChainCatcher news, on Tuesday, Bitcoin mining company MARA announced a $200 million credit line, using part of its BTC holdings as collateral. The company stated that the funds will be used to capitalize on strategic opportunities and for other general corporate purposes.

Although MARA did not provide specific details about the terms of the credit line, the characteristics of recent agreements by industry competitors have shown a loan-to-value ratio of about 70% and a weighted average interest rate of 4.2%. Assuming a loan-to-value ratio of 70%, MARA would need to pledge approximately 4,000 BTC as collateral for the $200 million credit line.

As of September 30, MARA holds 26,842 BTC, currently valued at $1.8 billion.