MARA Holdings (MARA), a bitcoin-listed miner, has increased its previously announced convertible senior note offering from $700 million to $850 million. The company also increased the amount of an option for initial purchasers to purchase additional bonds from $105 million to $150 million. The offering, which is expected to close on November 20, is a private placement for qualified institutional buyers. The proceeds raised are expected to be approximately $833 million, of which $199 million will be used to repurchase MARA's existing $212 million convertible notes for 2026. The remainder will be used for bitcoin (BTC) acquisitions, asset expansion and general corporate purposes. It follows yesterday's news that MARA plans to raise $700 million by issuing convertible senior notes to buy more bitcoins.