MARA Is Selling Its Bitcoin and Firing Staff — And Calling It a Growth Strategy

MARA Holdings (MARA) reportedly minimize roughly 15% of its workforce and bought over 15,000 Bitcoin (BTC) for $1.1 billion to retire convertible debt, as the corporate pivots from Bitcoin mining towards AI and vitality infrastructure.

CEO Fred Thiel confirmed the layoffs in an inside memo, describing the cuts as “a strategic one” somewhat than purely monetary, citing the corporate’s new course following its partnerships with Starwood Digital Ventures and Exaion.

MARA Cuts 15% of Staff and Sells $1.1B in Bitcoin to Fund AI Pivot

The layoffs hit a number of departments in waves throughout early April, based on sources conversant in the matter.

MARA reported roughly 266 full-time workers as of December 31, 2025, per its Form 10-Okay filing. Therefore, a 15% minimize would suggest roughly 40 positions being eradicated.

Affected workers obtained one month of paid go away by way of April 30, plus 13 weeks of severance.

Between March 4 and March 25, MARA sold 15,133 BTC for approximately $1.1 billion, utilizing the proceeds to repurchase 0.00% convertible senior notes due in 2030 and 2031 at roughly a 9% low cost to par.

The transfer minimize the corporate’s excellent convertible debt by about 30%, from $3.3 billion to $2.3 billion, and decreased its BTC holdings by 28%, from ~53,822 BTC to 38,689 BTC.

MARA has signaled additional gross sales are possible, stating it plans to sell BTC “infrequently” all through 2026 to fund operations and company initiatives.

The restructuring comes after MARA posted a web lack of roughly $1.3 billion in 2025, as post-halving economics compressed mining margins throughout the trade.

The firm now operates 18 knowledge facilities throughout 4 continents with roughly 1.9 GW of capability, concentrating on AI and HPC workloads alongside Bitcoin mining.

The submit MARA Is Selling Its Bitcoin and Firing Staff — And Calling It a Growth Strategy appeared first on BeInCrypto.