Bitcoin mining company MARA obtains $200 million credit line, using part of its BTC holdings as collateral

On Tuesday, Bitcoin mining company MARA announced that it had secured a $200 million credit line, using part of its BTC holdings as collateral. The company said the funds will be used to exploit strategic opportunities and for other general corporate purposes. While MARA did not provide specific details about the terms of the credit line, recent agreements reached by industry competitors feature loan-to-value ratios of approximately 70% and a weighted average interest rate of 4.2%. Assuming a loan-to-value ratio of 70%, MARA will need to pledge approximately 4,000 BTC as collateral for the $200 million credit line. As of September 30, MARA held 26,842 BTC, currently worth $1.8 billion. (TheMinerMag)