MARA pledges 18,750 Bitcoin as collateral for $600 million loan

Bitcoin miner MARA closes two major loans with a total value of $600 million. The company pledges 18,750 Bitcoin as collateral, worth approximately $1.2 billion. The proceeds are intended for expansions in energy, Bitcoin mining and AI infrastructure.

Bitcoin is available at OKX and Bybit.

In short:

• MARA pledges 18,750 Bitcoin as collateral for two loans with a combined value of $600 million.
• The loans come from Coinbase Credit and Two Prime Lending, both with a term until 2028.
• The proceeds will be used for energy assets, Bitcoin mining and AI infrastructure.

Two loans, one large collateral

On 4 August, MARA finalised two loan agreements with Coinbase Credit and Two Prime Lending. The total principal of the facilities amounts to $750 million, of which $600 million in new capital becomes available, reports The Energy Mag. As collateral, MARA provides 18,750 Bitcoin, which at the current price of $64.878 amounts to more than $1.2 billion.

Coinbase Credit is providing a $450 million loan. This amount refinances an existing credit line of $150 million, meaning that $300 million in net new money comes in. Two Prime Lending is also contributing $300 million. Earlier this year, MARA’s Bitcoin holdings fell by 29% in the second quarter of 2026, making this new capital particularly notable.

Interest rates and use of proceeds

The Coinbase loan carries a variable interest rate of approximately 7.5%, while Two Prime applies a fixed rate of 7.65%. Both loans run until 2028. The rates are therefore close together, although Two Prime’s fixed rate offers more certainty about the total financing costs.

MARA says it wants to use the money for general corporate purposes. Specifically, this involves acquiring energy assets and expanding activities in the areas of Bitcoin mining, AI and high-performance computing. The company is thus clearly focusing on a broader infrastructure strategy, beyond just Bitcoin mining. For exactly how many miners are making losses under the current market conditions, read our earlier article about miners suffering daily losses.