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What will be the primary use of the proceeds from Marathon Digital's convertible notes offering by December 31, 2024?
3
Resolution / Starting Odds
Acquiring additional Bitcoin • 25%
General corporate purposes • 25%
Expanding mining infrastructure • 25%
Other • 25%
Official financial reports and announcements from Marathon Digital Holdings
Story
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.
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Acquire Bitcoin • 25%
Expand mining operations • 25%
Invest in technology and infrastructure • 25%
Other • 25%
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%
Yes • 50%
No • 50%