MARA Holdings Secures $600 Million Bitcoin-Backed Loans for AI and Energy Expansion

MARA Holdings has successfully secured $600 million in Bitcoin-backed loans as of August 4, 2026, aimed at funding its ambitious plans in artificial intelligence infrastructure and energy generation. The company has pledged 18,750 BTC across two credit facilities, which are part of a broader $750 million arrangement.

Coinbase contributed $450 million to this deal, refinancing an existing $150 million loan, while Two Prime provided the remaining $300 million. Both loans are set to mature in August 2028. Following this transaction, approximately 54% of MARA's Bitcoin treasury is now locked as collateral, a significant portion of its holdings.

As of the end of Q2 2026, MARA held 35,577 BTC valued at around $2.1 billion, with Bitcoin averaging $58,524 during that quarter. The primary focus for the newly acquired funds is the acquisition of the Long Ridge power-generation site, which is expected to support up to 2 gigawatts of capacity. MARA plans to utilize this power for AI and high-performance computing workloads, in addition to traditional energy infrastructure.

This deal is pending regulatory approvals, with a closing deadline set for November 30, 2026, although extensions may be possible if necessary.

In its Q2 2026 earnings report, MARA reported a revenue of $174.9 million, alongside a significant increase in its hashrate to 70.3 exahashes per second, marking a 22% year-over-year growth. However, the company also faced a net loss of $611.3 million for the quarter, with $342.7 million attributed to fair-value adjustments on Bitcoin holdings, indicating that the loss was partly an accounting effect rather than operational cash burn.