MARA Cuts 15% Workforce, Sells $1.1B Bitcoin to Retire Debt
MARA cut 15% of its roughly 266 employees and sold 15,133 BTC for $1.1B to retire 30% of its $3.3B convertible debt at a 9% discount. The company will repurpose freed capital towards AI and energy infrastructure across its 18 data centers with 1.9GW capacity.
1. Workforce Reduction and Severance
MARA eliminated approximately 15% of its 266 full-time staff, equating to around 40 positions, in early April. Affected employees receive one month of paid leave through April 30 plus 13 weeks of severance to support the transition.
2. Bitcoin Sales and Debt Retirement
Between March 4 and March 25, MARA sold 15,133 BTC for roughly $1.1 billion to repurchase 0% convertible senior notes due 2030 and 2031 at around a 9% discount. This transaction reduced outstanding convertible debt from $3.3 billion to $2.3 billion, representing a 30% cut.
3. Strategic Pivot to AI and Energy Infrastructure
Following partnerships with Starwood Digital Ventures and Exaion, MARA plans to shift capital and resources toward AI and high-performance computing workloads. The company now operates 18 data centers across four continents with a combined 1.9GW of capacity.
4. Financial Position and Future Bitcoin Sales
MARA posted a net loss of $1.3 billion in 2025 as halving compressed mining margins. The company signals further Bitcoin sales throughout 2026 to fund ongoing operations and corporate initiatives.