World's Largest Bitcoin Miner MARA Raises $850M to Expand 50K BTC Treasury

  • MARA BTC Treasury: Marathon Digital Holdings has launched an $850 m zero-coupon convertible note sale, extendable to $1 b, to reinforce its 44,893 BTC reserve amid post-halving cost pressure. Proceeds support Bitcoin buys, capped call hedges, 2026 note repurchase, and general use.