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12 sats \ 3 replies \ @TheBTCManual 5 Jan \ on: Bitcoin Miner MARA Lends 16% of Its 44,893 BTC Reserves bitcoin_Mining
Lol that didn't take long, 4 years and we're going full circle again, bold strategy lets see how long it takes to blow up in their faces
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0 sats \ 2 replies \ @Bell_curve 7 Jan
different situation
Mara is lending their assets to third parties whose identities remain secret.
What is the worst case scenario?
This isn't BlockFi or Celsius
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0 sats \ 1 reply \ @TheBTCManual 7 Jan
Lol that the funds fall to a 3Arrows Capital type situation, even if they take a 10% loss on their stack, how does that reflect in their stock price when they announce hey we lost 730 BTC
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0 sats \ 0 replies \ @Bell_curve 7 Jan
3 arrow capital was over leveraged, Mara is not.
Worst case scenario is they lose 7377 btc minus any assets of the borrowers
edit: of course it looks bad if they lose 10 percent of the stack they lend but we don't know what collateral the borrowers have. Three Arrow Capital went belly up. Their founders went into hiding last I checked in 2022.
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