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Market
How many institutional investors will participate in Marathon Digital's notes offering by Q2 2025?
3
Resolution / Starting Odds
More than 30 • 25%
Less than 10 • 25%
10 to 20 • 25%
21 to 30 • 25%
Marathon Digital's official financial reports and press releases
Story
Marathon Digital to Raise Up to $805 Million via Zero-Coupon Notes to Buy More Bitcoin
Dec 2, 2024, 12:49 PM
Marathon Digital Holdings (NASDAQ: MARA), a publicly traded Bitcoin mining company, announced a proposed private offering of $700 million in zero-coupon convertible senior notes due 2031, with an option for initial purchasers to buy an additional $105 million of the notes, potentially raising up to $805 million. The notes bear a 0% interest rate and will be offered to institutional investors under Rule 144A. The company plans to use the majority of the net proceeds to purchase more Bitcoin, further increasing its holdings. This move follows Marathon's recent acquisition of over $600 million worth of Bitcoin ten days ago and reflects a strategy similar to that of MicroStrategy in accumulating Bitcoin. The offering underscores Marathon Digital's commitment to expanding its Bitcoin holdings and its confidence in the cryptocurrency's long-term potential.
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Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Completed as planned • 25%
Partially completed • 25%
Cancelled • 25%
Other outcome • 25%
Yes • 50%
No • 50%
Issue new convertible notes • 25%
Acquire another company • 25%
Sell a portion of Bitcoin holdings • 25%
Other strategic initiative • 25%
Increase by more than 20% • 25%
Increase by 0% to 20% • 25%
Decrease by 0% to 20% • 25%
Decrease by more than 20% • 25%
Yes • 50%
No • 50%
Below 35,000 BTC • 25%
35,000 to 37,500 BTC • 25%
37,501 to 40,000 BTC • 25%
Above 40,000 BTC • 25%