MARA Taps Bitcoin-Backed Loans as Institutional Credit Expands

Bitcoin-backed lending is moving deeper into institutional finance as lenders offer larger facilities, tailored terms and more formal collateral controls. Providers including Two Prime are targeting corporate treasuries and publicly traded miners that want to unlock working capital without selling their Bitcoin holdings. The approach preserves exposure to any BTC appreciation, but leaves borrowers vulnerable to margin calls or liquidation if collateral values fall sharply.

A report published on Aug. 10, 2026, said MARA Holdings pledged 18,750 BTC, then valued at about $1.2 billion, to raise $600 million in new financing. Coinbase Credit and Two Prime Lending each provided $300 million. MARA plans to use the proceeds for its acquisition of Long Ridge Energy & Power and for capital spending across energy, Bitcoin mining, artificial intelligence and high-performance computing infrastructure.