Bitcoin mining company MARA pledged 18,750 BTC to secure a $750 million loan for expanding AI and energy infrastructure

According to Crowdfund Insider, Bitcoin mining company MARA Holdings disclosed in its latest quarterly SEC filing that it has pledged 18,750 BTC as collateral for two Bitcoin-backed loans, with a total principal of $750 million.

The financing provided by Coinbase Credit includes refinancing of an existing $150 million credit line and an additional $300 million; Two Prime Lending also provided a $300 million loan. Both loans have been fully drawn, with a combined financing cost of approximately 7.56%, primarily maturing in August 2028.

The pledged 18,750 BTC was valued at approximately $1.2 billion at the time of the transaction. If the price of Bitcoin falls and the collateral ratio drops below the agreed level, MARA may face additional collateral requirements; otherwise, the related BTC is at risk of liquidation. The new funds will primarily be used for general corporate purposes and to support MARA's acquisition of Long Ridge Energy & Power.

The transaction values the company at approximately $1.5 billion, with Long Ridge owning a natural gas power plant in Ohio, USA, with an expected installed capacity of 505 MW, as well as over 1,600 acres of industrial land. MARA plans to further develop the area into a base for Bitcoin mining, AI, and high-performance computing infrastructure.