Publicly traded companies are now leveraging their bitcoin assets for loans to finance acquisitions and capital projects without divesting their holdings.
By James Van Straten|Edited by Oliver Knight1 hr ago2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Alexander Blume, founder and CEO of Two Prime, speaks at Consensus 2026 in Miami (CoinDesk)SummaryShow- Institutions are increasingly utilizing bitcoin as collateral to secure financing for acquisitions and capital investments while retaining ownership of the asset.
- Two Prime reports that the market is evolving, with lenders providing larger loans, extended terms, and customized financing options.
The demand for bitcoin-backed loans among institutions is on the rise as lenders begin to offer more substantial loan amounts, extended maturities, and tailored terms.
A notable instance occurred this month when MARA Holdings (MARA) secured $600 million through two term loans from Coinbase Credit and Two Prime Lending, using 18,750 BTC as collateral.
This collateral represented about 53% of Marathon's total bitcoin holdings at that time, with a valuation of around $1.2 billion when the deal was finalized on August 4.
MARA indicated that it plans to utilize the funds for various corporate purposes, including the acquisition of Long Ridge Energy & Power, a gas-fired power plant in Ohio that could facilitate both bitcoin mining and AI infrastructure development.
This trend highlights a significant change among corporate bitcoin holders, who are opting to use their assets as collateral instead of liquidating them for cash.
“Secured BTC loans are maturing as a product,” stated Alexander Blume, CEO of Two Prime, during an interview with CoinDesk. “We are witnessing companies like ours enhance their capability to offer longer durations, customized terms, and traditional warehouse lines to cater to institutional clients.”
The loan provided by Two Prime to MARA has a fixed interest rate of 7.65% and is set to mature in August 2028. Blume noted an uptick in borrowing interest recently, as institutions are increasingly leveraging their bitcoin holdings to finance capital projects while maintaining exposure to the asset.
Loan structures are also becoming more intricate. Recent regulatory filings reveal agreements with comprehensive terms covering margin calls, collateral management, and liquidation processes, along with a broader selection of loan amounts and durations.
Lenders such as Ledn and Kraken have contributed to market expansion through asset-backed securities and warehouse facilities tied to bitcoin collateral, according to Blume.
This evolution may have implications that extend beyond bitcoin lending, as more financial assets transition to blockchain-based systems.
“This core competency will become increasingly pertinent as the wider financial ecosystem embraces on-chain technology,” Blume remarked, suggesting tokenized equities as a potential area for future growth.
As more publicly listed companies incorporate bitcoin into their balance sheets, the ability to borrow against these assets is becoming a vital component of corporate finance in the digital asset space.
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