MARA Holdings Sells 20,880 BTC, Plans Acquisition of Ohio Power Plant Operator

MARA Holdings has sold 20,880 BTC for approximately $1.5 billion in the first quarter of this year. According to NS3.AI, the company allocated around $1 billion of the proceeds to repay convertible bonds, effectively reducing its debt from approximately $3.3 billion to $2.3 billion. Additionally, MARA Holdings announced plans to use the remaining funds for the acquisition of Long Ridge Energy, a 505 MW power plant operator based in Ohio.