MARA Holdings (MARA) reportedly reduce about 15% of its workforce and offered over 15,000 Bitcoin ($BTC) for $1.1 billion to retire convertible debt, as the corporate pivots from Bitcoin mining to synthetic intelligence and power infrastructure.
CEO Fred Thiel confirmed the layoffs in an inner memo, describing the cuts as “strategic” fairly than purely monetary, citing the corporate’s new route following its partnerships with Starwood Digital Ventures and Exaion.
MARA cuts 15% of its workers and sells $1.1 billion in Bitcoin to fund AI Pivot
The layoffs hit a number of departments in waves in early April, in keeping with sources aware of the matter.
SCOOP: BITCOIN MINER @MARA MAKES COMPANY-WIDE LAYOUTS BY @blockspace
Our sources say $MARA has laid off workers in a number of departments. Blockspace was unable to verify the quantity or proportion of staff affected at the moment.
A supply described the layoffs as “ongoing”… pic.twitter.com/R6JDaJQDF8
– Blockspace (@blockspace) April 2, 2026
MARA reported roughly 266 full-time staff as of Dec. 31, 2025, in keeping with its Kind 10-Ok submitting. Subsequently, a 15% reduce would indicate the elimination of roughly 40 positions.
The affected workers acquired one month of paid go away till April 30, plus 13 weeks of compensation.
Between March 4 and 25, MARA offered 15,133 $BTC for roughly $1.1 billion, utilizing the proceeds to repurchase 0.00% convertible senior notes due 2030 and 2031 at roughly a 9% low cost to par.
The transfer diminished the corporate’s excellent convertible debt by about 30%, from $3.3 billion to $2.3 billion, and diminished its $BTC shares by 28%, from ~53,822 $BTC at 38,689 $BTC.
MARA has signaled that additional gross sales are seemingly and mentioned it plans to promote $BTC “every so often” all through 2026 to fund operations and company initiatives.
The restructuring comes after MARA posted a internet lack of about $1.3 billion in 2025 because the post-halving financial system compressed mining margins throughout the trade.
The corporate now operates 18 knowledge facilities throughout 4 continents with roughly 1.9 GW of capability, concentrating on AI and HPC workloads together with Bitcoin mining.
