MARA Holdings Inc (NASDAQ:MARA) shares are trading lower Monday afternoon as weakness in Bitcoin (CRYPTO: BTC) continues to pressure sentiment across crypto-linked miners, even after the company announced a major balance sheet move last week.
Bitcoin was down about 6.6% over the past week and lower again Monday, a backdrop that may be weighing on MARA Holdings and the broader mining space.
- MARA Holdings shares are sliding. Why are MARA shares down?
MARA Uses $1.1 Billion Bitcoin Sale To Repurchase Debt
The move follows a March 26 announcement in which MARA Holdings said it sold 15,133 Bitcoin for about $1.1 billion and used the proceeds to repurchase roughly $1 billion …