MARA Sells 15,133 BTC, Cuts Workforce, and Reduces Debt by Nearly 30%
The post MARA Sells 15,133 BTC, Cuts Workforce, and Reduces Debt by Nearly 30% appeared on BitcoinEthereumNews.com.
TLDR: MARA sold 15,133 BTC for $1.1B and used most funds to repurchase $1B in convertible debt. The company reduced total convertible debt by nearly 30%, lowering it from $3.3B to about $2.3B. Layoffs affecting 15% of staff come as MARA restructures operations across multiple departments. MARA is shifting focus toward AI and high-performance computing alongside its mining business. MARA Holdings has begun workforce reductions shortly after executing a large Bitcoin sale and debt repurchase strategy. The company sold over 15,000 BTC and used most proceeds to reduce outstanding convertible notes, while also adjusting operational priorities. MARA Executes Bitcoin Sale and Workforce Reduction A recent update on X shared by Bitcoin News confirmed that MARA Holdings sold 15,133 Bitcoin for about $1.1 billion. The transaction came just days before the company initiated layoffs affecting roughly 15% of its workforce. The cuts span several departments, signaling a broad internal adjustment. NEW: MARA Holdings is laying off approximately 15% of its workforce across multiple departments just days after selling 15,133 BTC for roughly $1.1 billion, using most of the proceeds to repurchase $1 billion in convertible senior notes. pic.twitter.com/1xfZwWJkaU — Bitcoin News (@BitcoinNewsCom) April 4, 2026 According to the same update, the company directed most of the sale proceeds toward repurchasing $1 billion in convertible senior notes. This move aligns with efforts to reduce financial obligations and improve balance sheet strength. The timing of the layoffs alongside the financial restructuring has drawn attention across the crypto sector. Data from NS3.AI indicates that the debt repurchase is expected to save approximately $88.1 million in cash. This reduction provides near-term relief in terms of interest and repayment pressure. At the same time, it lowers the company’s exposure to future conversion risks tied to those notes. The company’s total convertible debt has decreased by nearly…
Filed under: News - @ April 4, 2026 10:14 pm