Marathon Digital to Raise $250M, $37.5M Possible, in Convertible Notes for Bitcoin

Aug 12, 2024, 12:04 PM

Marathon Digital Holdings, a leading Bitcoin mining company, has announced plans to raise $250 million through a private offering of convertible senior notes, with an additional $37.5 million possible based on market conditions. The notes are due in 2031. The proceeds from this offering will primarily be used to acquire additional Bitcoin and for general corporate purposes. This move follows a previous $100 million Bitcoin acquisition in July, and the company currently holds 20,000 BTC. Marathon Digital aims to bolster its Bitcoin holdings and enhance its market position with this financial strategy.