and content.

,

. We'll translate naturally. For "MARA" keep as is. "Bitcoin" -> ビットコイン. "AI" -> AI. "Energy" -> エネルギー. "Power generation" -> 発電. "Data centers" -> データセンター. "Crypto miners" -> 暗号資産マイナー. "The Energy Mag" -> The Energy Mag (keep proper noun). "The Miner Mag" -> The Miner Mag. We'll write the translation. Note: The article ends with "But we have to ensure no invented details..." That is not part of the article. So we stop before that. Let's translate: Original:

The loan and its collateral

According to the report, MARA secured the loan by putting up a significant portion of its bitcoin holdings. The exact terms of the loan, including interest rate and maturity date, were not disclosed in the article. The 18,750 bitcoin pledged as collateral represents a substantial asset for the company, which has been building its bitcoin reserves over time.

Bitcoin's price is known to swing sharply, which means the value of the collateral could change quickly. Lenders often require additional collateral if the asset's price drops, but it's unclear whether such provisions are part of this agreement.

Expansion into power and AI

The company said the funds will be used to finance its move into power generation and AI infrastructure. This marks a departure from MARA's core business of bitcoin mining, which relies heavily on cheap electricity. By investing in power generation, MARA could gain more control over its energy costs and potentially supply power to other operations.

The AI infrastructure side suggests MARA is looking to build data centers or computing capacity that could be leased to AI companies. This is a growing area of interest for many crypto miners, who have access to large amounts of power and existing data center expertise.

The report and its source

The Energy Mag, which recently changed its name from The Miner Mag, published the story. The publication focuses on the intersection of energy and mining, and its rebranding reflects a broader shift in the industry toward energy-related topics.

MARA has not publicly commented on the loan beyond the information provided in the report. The company's plans for the new capital are still taking shape, and it's not clear when the expansion projects will begin.

The loan adds to MARA's existing financial obligations, and the company will need to manage its bitcoin collateral carefully given the volatile market. How MARA structures its new ventures will determine whether the bet pays off.