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How will Marathon Digital's stock price change within a month of notes offering announcement?
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Stock market data from exchanges where Marathon Digital is listed
Story
Marathon Digital Announces $805M Convertible Notes Offering for Bitcoin Expansion
Dec 2, 2024, 11:54 AM
Marathon Digital Holdings, a publicly listed Bitcoin mining company, has announced a proposed private offering of $700 million in 0% convertible senior notes due in 2031, with an additional $105 million option for initial purchasers, bringing the total potential raise to $805 million. The proceeds are intended to scale Bitcoin mining operations, acquire Bitcoin, and repurchase up to $50 million of existing 2026 convertible notes. The move aligns with Marathon's strategy to expand its Bitcoin holdings, mirroring a playbook similar to that of MicroStrategy.
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