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MARA Holdings (NasdaqCM:MARA) sold US$1.1b in Bitcoin, using the proceeds to overhaul its balance sheet.
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The miner repaid all Bitcoin backed loans, removing crypto collateral from its financing structure.
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The board approved a new US$500m share repurchase program following a recent revenue decline.
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The Bitcoin sale and new US$500m buyback change how MARA Holdings manages risk and capital going forward. Our analysis turns up 3 warning signs for MARA Holdings as well.
This miner is one of many businesses tied to digital assets and compute demand, which also touch 53 AI infrastructure stocks.
MARA Holdings runs energy and digital…