According to CoinMeta, MARA Holdings announced the pledging of 18,750 BTC to support a new loan of $600 million. As one of the largest Bitcoin miners, MARA obtained loans of $300 million each from Coinbase Credit and Two Prime; the value of the Bitcoin pledged at the time of closing was approximately $1.2 billion. These pledged Bitcoins account for 53% of MARA's total holdings. If the price of BTC falls below the required level, they may be liquidated. For more details, please refer to the quarterly report.