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What will be Marathon Digital's primary use of $980M proceeds by 2025?
3
Resolution / Starting Odds
Acquire Bitcoin • 25%
Expand mining operations • 25%
Invest in technology and infrastructure • 25%
Other • 25%
Marathon Digital Holdings' official financial disclosures or press releases
Story
Marathon Digital Raises $1 Billion at 0% Interest, Securing $980 Million in Proceeds to Acquire More Bitcoin Due in 2030
Nov 21, 2024, 01:21 PM
Marathon Digital Holdings, publicly traded under the ticker MARA, has successfully raised $1 billion through a convertible note offering with a 0% interest rate, aimed at acquiring additional Bitcoin. The offering, which was initially set at $750 million but was oversubscribed, reflects a strong market appetite for Bitcoin-backed financial instruments. The convertible notes are due in 2030 and will provide Marathon with approximately $980 million in net proceeds after repaying existing debt. This strategic move comes as the cryptocurrency market experiences a resurgence, positioning Marathon to enhance its Bitcoin holdings significantly.
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Acquiring additional Bitcoin • 25%
General corporate purposes • 25%
Expanding mining infrastructure • 25%
Other • 25%
Issue new convertible notes • 25%
Acquire another company • 25%
Sell a portion of Bitcoin holdings • 25%
Other strategic initiative • 25%
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