According to Odaily Planet Daily, on Tuesday, Bitcoin mining company MARA announced that it had obtained a $200 million credit line, using part of its BTC holdings as collateral. The company said the funds will be used to take advantage of strategic opportunities and other general corporate purposes.
While MARA did not provide specific details on the terms of the credit lines, recent agreements among industry competitors feature loan-to-value ratios of about 70% and a weighted average interest rate of 4.2%.
Assuming a 70% loan-to-value ratio, MARA would need to pledge approximately 4,000 BTC as collateral for a $200 million line of credit. As of September 30, MARA held 26,842 BTC, currently valued at $1.8 billion.
