The mining firm MARA has secured two loans totaling $600 million, using 18,750 BTC as collateral — $450 million from Coinbase Credit and $300 million from Two Prime Lending. According to its quarterly report, $150 million of the first loan is aimed at refinancing an existing credit line. The pledged bitcoins were valued at approximately $1.2 billion at the time the deals were finalized, representing nearly 53% of the 35,577 BTC that the company held as of June 30. Should the price of bitcoin decrease, MARA will be required to provide additional collateral; otherwise, lenders have the right to liquidate the collateral. The interest rates on the loans are set at 7.5% and 7.65% annually, with the funds earmarked for various purposes, including the acquisition of the Long Ridge gas power plant, which has a capacity of 505 MW in Ohio.