Crypto Vs Equities CrosscurrentsCross Asset Signal

MARA selling BTC to repurchase $1B converts (deleveraging) and market reaction

March 26, 2026MARA, Evan, Quant Data

MARA frames BTC sales as funding a discounted repurchase of convertible notes to reduce dilution, while traders note the stock popping despite selling into weaknessfueling debate about miner balance-sheet risk management.

Today, MARA announced the repurchase of ~$1B in convertible notes at a ~9% discount to par value.
Funded through BTC sales, not the ATM.
$MARA is up 10% today after selling more than $1 Billion of its Bitcoin $BTC
MARA
Evan
Quant Data
Your Friend Andy
Micro2Macr0
minersdeleveragingconvertiblesbitcoinbtc

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