MARA Holdings, a Nasdaq-listed Bitcoin mining company, has initiated a consent solicitation process for holders of Long Ridge Energy's $600 million senior secured notes to amend the terms of the related covenants. According to ChainCatcher, this move follows MARA's agreement on April 29 to acquire 100% equity of Long Ridge's parent company. The acquisition would trigger a 'change of control' clause in the notes, theoretically requiring MARA to repurchase all outstanding notes at 101% of their value in cash. MARA is seeking consent from noteholders to exclude this transaction from the 'change of control' definition and to designate MARA and its affiliates as 'permitted holders.'