MARA authorizes $500 million share repurchase and uses $750 million of bitcoin proceeds to clear debt
MARA Holdings announced a share‑repurchase program worth up to $500 million and used proceeds from a $1.1 billion bitcoin sale to fully repay its bitcoin‑backed loans. The company reported third‑quarter net income of $634.4 million, driven by an $885.3 million unrealized gain on its bitcoin holdings, while revenue fell 35% year‑over‑year to $164.2 million. It also cut total debt by $1.4 billion, or 37% of the year‑to‑date balance, and is shifting toward leasing power for AI and high‑performance computing customers.
Why it matters
The buyback authorization could support the share price by returning cash to shareholders, while the debt repayment reduces financial risk tied to bitcoin price volatility. The shift toward digital‑infrastructure revenue may change the company’s growth profile for investors.
Key facts
- 1MARA’s board approved a share‑repurchase program of up to $500 million, representing roughly one‑fifth of the company’s market value. ibtimes.com.au
- 2The company sold 13,597 bitcoin for about $1.1 billion after quarter‑end. bitcoinfoundation.org
- 3MARA used $750 million of the bitcoin sale proceeds to fully repay its bitcoin‑backed term loans. ibtimes.com.au
- 4Third‑quarter net income was $634.4 million, up from $123.1 million a year earlier. ibtimes.com.au
- 5Revenue for the quarter fell 35% year‑over‑year to $164.2 million. ibtimes.com.au
- 6Total debt was reduced by $1.4 billion, or 37% of the year‑to‑date total, after the repayment. bitcoinfoundation.org
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.