Crypto miner Mara falls on planned $850 million convertible bonds offering

ReutersJul 23, 2025 12:52 PM

Shares of crypto miner Mara Holdings MARA.O fall 5.5% to $18.78 premarket

MARA unveils proposed private offering of $850 million of zero coupon convertible bonds due 2032

Proceeds will be used to repurchase a portion of its convertible bonds due 2026 and to buy bitcoin, among other purposes

Stock closed up 5.6% at $19.88 on Tuesday

MARA has 351.9 million outstanding shares for $7 billion market cap - data compiled by LSEG

Six of 13 brokerages rate the stock "buy" or higher and 7 "hold"; median PT is $19 - data compiled by LSEG

As of last close, MARA shares up 18.6% YTD

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