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Market
What will be Marathon Digital's next major financial move by May 31, 2025?
2
Resolution / Starting Odds
Issue new convertible notes • 25%
Acquire another company • 25%
Sell a portion of Bitcoin holdings • 25%
Other strategic initiative • 25%
Marathon Digital's official announcements or press releases
Story
Marathon Digital Buys 6,474 BTC for $615M via $1B Convertible Note, Total Holdings at 34,794 BTC
Nov 28, 2024, 05:54 AM
Marathon Digital Holdings (NASDAQ: MARA), the largest publicly traded Bitcoin mining company, has acquired 6,474 Bitcoin (BTC) for approximately $615 million through a 0% $1 billion convertible note offering. The purchase, at an average price of around $95,395 per BTC, increases Marathon's total holdings to 34,794 BTC, valued at approximately $3.3 billion. The company retains all the Bitcoin it mines and plans to use the remaining $160 million from the offering to buy more BTC on market dips, reinforcing its bullish stance on the cryptocurrency. Marathon's mining operations benefit from a 40% Bitcoin discount, and its stock price has risen by 7.81%, reflecting investor confidence.
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Similar markets
Acquire Bitcoin • 25%
Expand mining operations • 25%
Invest in technology and infrastructure • 25%
Other • 25%
Yes • 50%
No • 50%
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Stock price increases over 20% • 25%
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