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Will Bitcoin's price increase by 50% after Marathon Digital's purchase by end of 2025?
3
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Yes • 50%
No • 50%
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Story
Marathon Digital to Raise Up to $805 Million via Zero-Coupon Notes to Buy More Bitcoin
Dec 2, 2024, 12:49 PM
Marathon Digital Holdings (NASDAQ: MARA), a publicly traded Bitcoin mining company, announced a proposed private offering of $700 million in zero-coupon convertible senior notes due 2031, with an option for initial purchasers to buy an additional $105 million of the notes, potentially raising up to $805 million. The notes bear a 0% interest rate and will be offered to institutional investors under Rule 144A. The company plans to use the majority of the net proceeds to purchase more Bitcoin, further increasing its holdings. This move follows Marathon's recent acquisition of over $600 million worth of Bitcoin ten days ago and reflects a strategy similar to that of MicroStrategy in accumulating Bitcoin. The offering underscores Marathon Digital's commitment to expanding its Bitcoin holdings and its confidence in the cryptocurrency's long-term potential.
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