Gérard Mestrallet Appointed as Senior Advisor to the Company and François Garcin as General Manager of Europe Establishes Regional Headquarters in Paris, France Miami, FL, Aug. 25, 2025 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) ("MARA" or the “Company”), a leading digital energy and infrastructure company, today announced actions to further expand its presence in Europe. MARA has welcomed Gérard Mestrallet as a Senior Advisor to MARA and appointed François Garcin as General Manager of Europe. ...

Financial Performance - Revenues increased 64% YoY to $238 million [1] - Net income increased 505% YoY to $808.2 million [1] - Bitcoin holdings increased 170% YoY to 49,951 from 18,488 at the end of Q2 2024 [1] Company Overview - MARA Holdings, Inc. (NASDAQ: MARA) is a leading digital energy and infrastructure company [1][4] - The company deploys digital energy technologies to advance the world's energy systems [4] - MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure [4]

Core Viewpoint - MARA Holdings, Inc. has announced the pricing of an upsized offering of $950 million in convertible senior notes due 2032, with an option for initial purchasers to buy an additional $200 million [1][6] Group 1: Offering Details - The notes will be unsecured, senior obligations of MARA, with a maturity date of August 1, 2032, and will not bear regular interest [2] - Holders of the notes can require MARA to repurchase their notes on January 4, 2030, under certain conditions [3] - The notes will be convertible into cash, shares of MARA's common stock, or a combination thereof, with specific conversion conditions prior to May 1, 2032 [4] Group 2: Financial Projections - MARA estimates net proceeds from the sale of the notes to be approximately $940.5 million, or $1,138.5 million if the option for additional notes is fully exercised [6] - Approximately $18.3 million of the net proceeds will be used to repurchase existing 1.00% convertible senior notes due 2026, with the remainder allocated for capped call transactions, bitcoin acquisition, and general corporate purposes [7] Group 3: Capped Call Transactions - MARA has entered into capped call transactions to reduce potential dilution upon conversion of the notes, with an initial cap price of approximately $24.14 per share [10][11] - The capped call transactions are expected to cover the number of shares underlying the notes sold in the offering, subject to anti-dilution adjustments [10] Group 4: Market Activity - The initial purchasers and their affiliates may engage in market activities that could affect the market price of MARA's common stock and the notes, potentially impacting the conversion process [12]

Core Insights - MARA has appointed Nir Rikovitch as Chief Product Officer to lead the company's product strategy and commercialize its technology into market-ready products [1][2] - Rikovitch's role will involve building the product discipline, focusing on the roadmap for products and engineering to deliver production-grade systems [2] - The CEO of MARA, Fred Thiel, emphasized Rikovitch's background in product leadership and autonomous technology as key to advancing MARA's product vision [3] Company Overview - MARA is a leading digital energy and infrastructure company that deploys digital energy technologies to enhance global energy systems [6] - The company transforms excess energy into digital capital, balancing the grid and accelerating critical infrastructure deployment [6] - MARA aims to reduce energy demands for high-performance computing applications, including AI and edge computing [6] Leadership Background - Nir Rikovitch has extensive experience in product management, machine learning, and engineering leadership, with a successful track record in intelligent infrastructure development [3] - Prior to joining MARA, Rikovitch was Director of Product Management at Blue River, where he co-founded the autonomy unit and led product strategy, generating over $500 million in revenue [3] Future Directions - Rikovitch expressed a commitment to integrating smarter energy practices with scalable solutions at MARA [4] - The company is actively hiring across various roles in product, engineering, and systems design to support its growth [4][5]

Financial Performance - Revenues increased 30% year-over-year to $214 million [1] - Bitcoin holdings increased 174% year-over-year to 47,531 from 17,320 at the end of Q1 2024 [1] Company Overview - MARA Holdings, Inc. is a vertically integrated digital energy and infrastructure company that leverages high-intensity compute, such as bitcoin mining, to monetize excess energy and optimize power management [4] - The company focuses on strategically growing by shifting its model toward low-cost energy with more efficient capital deployment and bringing to market a full suite of solutions for data centers and edge inference, including energy management, load balancing, and advanced cooling [4] Investor Engagement - Investors are invited to access the first quarter 2025 shareholder letter on MARA's website and a copy will be furnished to the Securities and Exchange Commission on a Form 8-K [2] - MARA will hold a webcast and conference call to discuss these financial results [2][3]