Marathon Digital Issues $250 Million Bond for Bitcoin Purchases
CryptoNewsTerminal Staff12 Aug, 2024
Marathon Digital Issues $250 Million Bond for Bitcoin Purchases
U.S.-based cryptocurrency miner Marathon Digital Holdings (MARA) has announced a $250 million senior convertible note offering to fund Bitcoin purchases. The notes will mature in 2031 and will be sold only to qualified institutional buyers. The proceeds from the bond offering will be used for strategic acquisitions, general corporate purposes, and repayment of debt. Marathon Digital Holdings is one of the largest Bitcoin miners in the world, with a hashrate of over 3.3 exahashes per second. The company has been aggressively expanding its operations in recent months, and the bond offering will provide it with additional capital to continue its growth. The issuance of the bond is also a sign of the growing institutional interest in Bitcoin and other cryptocurrencies.
