Top Bitcoin Miner to Raise $250 Million to Boost BTC Holdings
Marathon Digital has revealed plans to issue $250 million in convertible senior notes.
The company aims to use this funding to enhance its Bitcoin ( BTC ) holdings and support general corporate activities. This move reflects a broader trend where companies are increasing their Bitcoin investments.
The planned issuance will involve $250 million in senior convertible notes, available to qualified institutional buyers. These notes will mature in 2031 and will help Marathon Digital expand its Bitcoin acquisitions.
Additionally, the company will offer an extra $37.5 million in notes over a 13-day window following the initial issuance.
READ MORE:
SEC Postpones Verdict on Groundbreaking Bitcoin-Ethereum ETFThe convertible notes will be unsecured senior debt, with interest payments scheduled semiannually from March 1, 2025, to September 1, 2031.
Marathon Digital’s strategy aligns with a growing trend among companies to bolster their Bitcoin holdings, influenced by the increased institutional interest and the recent approval of spot Bitcoin ETFs by the SEC. This trend has led to substantial investment in Bitcoin, further driving its value and appeal.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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