MARA Holdings Pledges 18,750 BTC for $750M Loan to Expand AI and Energy Infrastructure

MARA secures $750M in BTC-backed loans from Coinbase Credit and Two Prime Lending. Funds target Long Ridge Energy acquisition, raising liquidation risk if BTC prices decline.

Woofun AI reports that MARA Holdings disclosed in its latest SEC filing the pledge of 18,750 BTC to secure two Bitcoin mortgage loans totaling $750 million. The financing, fully drawn down at a cost of approximately 7.56%, includes refinancing an existing $150 million credit line with Coinbase Credit, an additional $300 million from the same lender, and $300 million from Two Prime Lending. Both facilities are due primarily in August 2028. The pledged collateral was valued at roughly $1.

2 billion at the time of the transaction. MARA faces potential collateral calls or liquidation if Bitcoin's price drops below agreed thresholds. Proceeds will support general corporate purposes and the acquisition of Long Ridge Energy & Power, a company valued at approximately $1.5 billion. The target owns natural gas power plants with an estimated capacity of 505 MW and over 1,600 acres of industrial land in Ohio, which MARA intends to develop into a hub for Bitcoin mining, AI, and high-performance computing infrastructure.