The convertible notes are due 2031

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by MARA Holdings, Inc. of $850 million aggregate principal amount of its 0.00% convertible senior notes due 2031.

MARA Holdings is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded or otherwise underutilized energy into economic value.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jason Bassetti and associates Savannah J. Dowling and Kathryn Parsons. The tax team included counsel Yixuan Long and associates Richard P. Wang and William Liang. Partner Frank J. Azzopardi and associate Francesca Masella provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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