The Two Prime facility carries a fixed rate of 7.65 percent. Weighted average costs for the new borrowings were reported around 7.56 percent.
At prevailing rates, annual interest expense on the combined facilities would approximate $56.7 million if principal levels remain steady.
The 18,750 BTC pledged as initial collateral carried a fair value of roughly $1.2 billion at closing.
This amount represents a substantial portion of the company’s treasury.
As of June 30, 2026, MARA reported total holdings of 35,577 BTC, of which approximately 9,270 were already loaned or pledged under earlier arrangements.
The new collateral commitment therefore activates a large share of remaining reserves for financing purposes.
Lenders require maintenance of specified collateral ratios; a decline in Bitcoin’s market price could trigger margin calls requiring additional pledges. Failure to meet such requirements would permit liquidation of the collateralized coins.
Proceeds are earmarked for general corporate purposes, with particular emphasis on funding a portion of the cash consideration for the pending acquisition of Long Ridge Energy & Power LLC.
That transaction, announced earlier in 2026, carries an enterprise value of approximately $1.5 billion.
Long Ridge owns a highly efficient combined-cycle natural gas power plant in Hannibal, Ohio, with nameplate capacity expected to reach 505 megawatts, along with more than 1,600 acres of industrially permitted land.
MARA intends to develop the site for expanded power generation, continued Bitcoin mining, and potential campuses dedicated to AI and high-performance computing.
The location already hosts some of the company’s existing data center capacity and offers access to water, fiber, and grid infrastructure.
This financing approach allows MARA to access non-dilutive capital while retaining upside exposure on its remaining Bitcoin holdings rather than selling additional coins or issuing equity.
It aligns with the company’s evolving strategy of treating its digital asset treasury as both a long-term reserve and a flexible funding tool for growth initiatives beyond pure mining operations.
The Long Ridge deal remains subject to customary closing conditions, including regulatory approvals, and is targeted for completion later in 2026.
By committing a sizable portion of its Bitcoin holdings in this manner, MARA demonstrates confidence in both the collateral asset and its broader infrastructure ambitions. The arrangement underscores how leading Bitcoin miners are increasingly integrating traditional energy assets with compute-intensive opportunities in AI and high-performance computing.
